Alternatives To Downsizing
Business people are finding creative ways to design and modify alternatives to downsizings because reductions in force are costly, devastating to the employees impacted, and generate public ill will. If there are other options, wise employers explore them.
The following common alternatives to reductions in force can be used in myriad combinations that suit the company's specific needs and accommodate the company's unique culture:
- Increasing productivity and profitability
- Management change
- Attrition
- Working longer hours, increasing business targets and/or modifying schedules
- Hiring freeze
- Redeployment/transfer based on skills
- Demotions, downgrades, transfers and/or disciplinary actions that force terminations based on substandard performance
- Promotion freeze
- Reducing benefits
- Pay freeze
- Reduction in pay
- Reduced workweek
- Temporary shutdown/layoff
- Work-sharing
- Job sharing
- Voluntary leave of absence/furloughs
- Voluntary retirements
Reprinted with permission. © CCH
Business people are finding creative ways to design and modify alternatives to downsizings because reductions in force are costly, devastating to the employees impacted, and generate public ill will. If there are other options, wise employers explore them.
Alternatives To Downsizing
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