cutting costs and
staying in business
Last year’s priorities
With the efforts
last year to reduce
costs the outlook for
businesses is starting
to improve, but
there may be trouble
on the horizon.
In a recessionary environment most
companies have...
More
cutting costs and
staying in business
Last year’s priorities
With the efforts
last year to reduce
costs the outlook for
businesses is starting
to improve, but
there may be trouble
on the horizon.
In a recessionary environment most
companies have concentrated on reducing
their operating costs.
Few have achieved this
without cutting back on employment costs
in the form of pay freezes, pay reductions
or redundancies.
However, now that we
are beginning to emerge from recession
companies have begun to change their focus.
New focus
Despite current political uncertainties,
many businesses are now showing signs of
recovery and attention is being focussed
on motivating and retaining the remaining
workforce, without incurring signiicant
costs.
There are some practical low-cost
steps that can be taken, such as facilitating
salary sacriice arrangements, introducing
choice through lexible beneits or by
offering discount facilities, all of which are
likely to be well received by the workforce.
Less
