COVID-19 and Reducing Costs During Crisis
Most experts agree that the coronavirus will cause a severe economic downturn. You can plan now to help your business weather the worst of the storm while preserving as many jobs as possible.
Applying an HR perspective to examining costs will enable you to make hard choices that balance the livelihood of employees with the immediate financial situation and long-term needs of the company.
- How can you and your team consider the business broadly?
- What costs will an examination of supply chains and talent streams reveal?
- How do costs affect cash flow?
- How should you review job functions to determine which positions to consider eliminating?
- What are the alternatives to reducing headcount?
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