BerniePortal

DECEMBER 14, 2021

More often than not, this will involve pay cuts, layoffs, or potentially furloughs. Cutting staff or reducing pay is the quickest and most effective way to save an organization money. That said it can also be a great source of conflict for both employers and their employees.

Employment 52

Employment IT Payroll 52

PeopleStrategy

FEBRUARY 14, 2024

Deciding to reduce your employee headcount is never easy. There are multiple ways that you can cut back the number of employees you have on the payroll (and subsequently their benefits) but it is important to determine what style of reduction is appropriate for your business. What are Furloughs? What Are Layoffs?

401(k) 52

401(k) Payroll Education Salary 52

Insperity

JUNE 25, 2020

When businesses go through a crisis resulting in abnormal (or interrupted) operations and significant economic challenges, many companies look to their compensation budgets as an obvious means of cutting costs. Layoffs can be an immediate, much-needed measure to reduce costs. Pay freezes. Elimination of perks.

Bonuses 112

Bonuses Overtime Salary Commissions 112

Empuls

MARCH 20, 2023

However, it is also accompanied by an undesirable aspect – handling layoffs. Layoff is a new hr trend and it is the most difficult challenge for HR to overcome. Many sectors saw high numbers of employee terminations in the post-pandemic world. So, what’s the best way for organizations to handle layoffs?

Human Resources 40

Human Resources Commissions Retail Employment 40

Genesis HR Solutions

MARCH 8, 2023

Instead of panicking, take this opportunity to review your business’ finances, re-evaluate your current products or services, and look for new ways that you can cut back in your business to save money. This is important because it will help you determine how best to prepare for an economic recession. We have you covered!

Finance 52

Finance Retail Banking Consulting 52