Recession Ready – Alternatives to Redundancies
Redundancies might seem like the quickest route to cutting costs; but it could cost your business. Helen from Consensus HR comments “it can unsettle remaining employees, affect your Company’s reputation and be a costly solution if you don’t manage them correctly”. Give us a call to talk through alternatives, which can include:
Short Term Salary Decreases:
Either across the whole Company or your highest earners, can your employees take a short term cut for the health of the business?
Short Term Salary Decreases:
Either across the whole Company or your highest earners, can your employees take a short term cut for the health of the business?
Organisational Restructuring – can you move around employees or redeploy them; into relevant key roles in the business?
The Boston Consulting Group have published a recent article about The Business Leaders Path Through Economic Turmoil; which talks about the importance of both short and long term actions in a time of difficult financial times.
The Business Leader’s Path Through Economic Turmoil | BCG
Redundancy
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When making employees redundant, it is essential that best practice is adopted and actions are legally compliant. This will minimise disruption to the business and help maintain moral amongst the team.
Working with Consensus HR ensures that any redundancies are carried out correctly, legally and efficiently. The dangers of not handling redundancy situations correctly include:
– loss of sales
– demotivated team members
– change in company culture to bad morale
– taken to Employment Tribunal
For further information, visit our website by clicking here.
Can you move around employees or redeploy them; into relevant key roles in the business?
The Boston Consulting Group have published a recent article about The Business Leaders Path Through Economic Turmoil; which talks about the importance of both short and long term actions in a time of difficult financial times.
The Business Leader’s Path Through Economic Turmoil | BCG