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Answer Upon - Downsizing is Akin to Amputation – It Creates Negative Side Effects
Salary is the most awkard issue in the hiring process. Discussing the compensation often causes anxiety on both employee and employer. Here are six ways to make the process of salary negotiating efficient.1) Research: Before the interview process begins, contact the professional organization that represents your field of career. As soon as they provide you with your salary information, you can now examine your monthly cash requirements. Remember that once your taxes are added to your paycheck, approximatel
But one has to manage the aftermath of the downsizing exercise with due care. As the saying goes: “Even rats will desert a sinking ship.” Haemorrhage or the exodus of good calibre staff may take place and deal a quick and severe blow to the company’s vital organs.
You must try to quickly re-establish the trust of the existing staff after a downsizing exercise. Silence is not golden here. Communicate to the staff the reasons for this exercise and the plans to resuscitate the company around. Be humane in treating the people to be fired. The golden rule in a downsizing exercise is: “ Do not do unto others what you do not want others to do unto you”. For one day, you may be the one t
The pre-hiring process can be a challenge. If you’re reading this article, you are finished with the pre-hiring process and are looking for tips that will guide you through the interview.Much time and energy can be invested and in the end, wasted, if your approach is not focused, deliberate, and specific. The following approaches have resulted in engaging, content-rich interviews providing us with a clear approach appropriate for each candidate.The Interview1. Arrange interviews wi
In the US, when the company is in trouble, it often commits corporate genocide by turning the guns on its own people. Subsequently, after a round of corporate genocide, it suffers from corporate anorexia, that is it trims itself to the core by further cost reduction. Corporate anorexia can make you leaner and thinner but it will also weaken your body. All these are done in the name of maximising shareholders’ returns.
There is a problem with one-size-fits-all downsizing. Good people also get fired. The ailing company is unable to attract good calibre staff to replace those who have left since its reputation in the marketplace is tarnished.
Loyalty from the staff makes economic sense. This is because the loyalty of customers cannot be earned without first earning the loyalty of employees. Achieving long-term growth without building a strong loyal base of customers is impossible. Unfortunately with the spate of retrenchments and downsizing, loyalty factor quickly fizzles out amongst the staff. Many employees think that the companies that they work for are not worthy of their loyalty.
There is no problem in removing the corporate fats, dysfunctional personnel or cancerous tumours in the company. In death threatening situations, it is better to amputate the diseased parts than to apply stitches and bandages. In addition, it is better to cut all marginally profitable and loss-making businesses in order to improve cash flow immediately.
Sometimes, downsizing is inevitable. For example, after merging, companies normally experience a duplication of manpower. In other circumstances, companies may need to shed staff after they lost their monopolistic position or major customers. As a result there is a slack in manpower resources that cannot be effectively deployed. Niccolo Machiavelli (1469-1527), an Italian statesman and historian said: “For injuries ought to be done all at a time, so that, being tasted less, their benefits ought to be given little by little, so that the flavour of them may last.” This is how downsizing exercise ought to be carried out, all at one time.
One turnaround manager, Randall Wright Patterson of BBK, Ltd, compared rescuing a failing company to saving a row of burning houses. “If you try to fight the fire from the beginning of the row, you will simply follow the fire and you will never put it out.
Sometimes you have to let the first three or four houses burn. During that time you design and put in place a plan of action to save the runaway business, a ‘fire wall’ per se, to save the remaining houses on the block.” Similarly, if you do not downsize the 10% of the workforce, you may not save the balance of 90%.
But one has to manage the aftermath of the downsizing exercise with due care. As the saying goes: “Even rats will desert a sinking ship.” Haemorrhage or the exodus of good calibre staff may take place and deal a quick and severe blow to the company’s vital organs.
You must try to quickly re-establish the trust of the existing staff after a downsizing exercise. Silence is not golden here. Communicate to the staff the reasons for this exercise and the plans to resuscitate the company around. Be humane in treating the people to be fired. The golden rule in a downsizing exercise is: “ Do not do unto others what you do not want others to do unto you”. For one day, you may be the one to
It's clear there are a number of common issues faced by business people across totally unrelated industries and environments. This series was created to provide some perspective and guidance to executives as they negotiate their way up the corporate ladder.In 2001, I started the consulting and coaching practice, which came to known as The Business Success Coach.net. I'd just finished working with a very large multinational firm owned by one of the largest companies in the world. With 25 years as an executiv
There is a problem with one-size-fits-all downsizing. Good people also get fired. The ailing company is unable to attract good calibre staff to replace those who have left since its reputation in the marketplace is tarnished.
Loyalty from the staff makes economic sense. This is because the loyalty of customers cannot be earned without first earning the loyalty of employees. Achieving long-term growth without building a strong loyal base of customers is impossible. Unfortunately with the spate of retrenchments and downsizing, loyalty factor quickly fizzles out amongst the staff. Many employees think that the companies that they work for are not worthy of their loyalty.
There is no problem in removing the corporate fats, dysfunctional personnel or cancerous tumours in the company. In death threatening situations, it is better to amputate the diseased parts than to apply stitches and bandages. In addition, it is better to cut all marginally profitable and loss-making businesses in order to improve cash flow immediately.
Sometimes, downsizing is inevitable. For example, after merging, companies normally experience a duplication of manpower. In other circumstances, companies may need to shed staff after they lost their monopolistic position or major customers. As a result there is a slack in manpower resources that cannot be effectively deployed. Niccolo Machiavelli (1469-1527), an Italian statesman and historian said: “For injuries ought to be done all at a time, so that, being tasted less, their benefits ought to be given little by little, so that the flavour of them may last.” This is how downsizing exercise ought to be carried out, all at one time.
One turnaround manager, Randall Wright Patterson of BBK, Ltd, compared rescuing a failing company to saving a row of burning houses. “If you try to fight the fire from the beginning of the row, you will simply follow the fire and you will never put it out.
Sometimes you have to let the first three or four houses burn. During that time you design and put in place a plan of action to save the runaway business, a ‘fire wall’ per se, to save the remaining houses on the block.” Similarly, if you do not downsize the 10% of the workforce, you may not save the balance of 90%.
But one has to manage the aftermath of the downsizing exercise with due care. As the saying goes: “Even rats will desert a sinking ship.” Haemorrhage or the exodus of good calibre staff may take place and deal a quick and severe blow to the company’s vital organs.
You must try to quickly re-establish the trust of the existing staff after a downsizing exercise. Silence is not golden here. Communicate to the staff the reasons for this exercise and the plans to resuscitate the company around. Be humane in treating the people to be fired. The golden rule in a downsizing exercise is: “ Do not do unto others what you do not want others to do unto you”. For one day, you may be the one t
The Project Management Professional (PMP®) certification from the Project Management Institute is the globally recognized standard for project managers. A PMP® certification is often required for new jobs, or it may be a condition for promotion. Taking the next step in your development as a professional project manager requires a commitment of time and energy. Relying on your experience alone won’t be enough to earn the PMP® certification.What to look for when searching for PMP Exam Prep providers: actor quickly fizzles out amongst the staff. Many employees think that the companies that they work for are not worthy of their loyalty.
There is no problem in removing the corporate fats, dysfunctional personnel or cancerous tumours in the company. In death threatening situations, it is better to amputate the diseased parts than to apply stitches and bandages. In addition, it is better to cut all marginally profitable and loss-making businesses in order to improve cash flow immediately.
Sometimes, downsizing is inevitable. For example, after merging, companies normally experience a duplication of manpower. In other circumstances, companies may need to shed staff after they lost their monopolistic position or major customers. As a result there is a slack in manpower resources that cannot be effectively deployed. Niccolo Machiavelli (1469-1527), an Italian statesman and historian said: “For injuries ought to be done all at a time, so that, being tasted less, their benefits ought to be given little by little, so that the flavour of them may last.” This is how downsizing exercise ought to be carried out, all at one time.
One turnaround manager, Randall Wright Patterson of BBK, Ltd, compared rescuing a failing company to saving a row of burning houses. “If you try to fight the fire from the beginning of the row, you will simply follow the fire and you will never put it out.
Sometimes you have to let the first three or four houses burn. During that time you design and put in place a plan of action to save the runaway business, a ‘fire wall’ per se, to save the remaining houses on the block.” Similarly, if you do not downsize the 10% of the workforce, you may not save the balance of 90%.
But one has to manage the aftermath of the downsizing exercise with due care. As the saying goes: “Even rats will desert a sinking ship.” Haemorrhage or the exodus of good calibre staff may take place and deal a quick and severe blow to the company’s vital organs.
You must try to quickly re-establish the trust of the existing staff after a downsizing exercise. Silence is not golden here. Communicate to the staff the reasons for this exercise and the plans to resuscitate the company around. Be humane in treating the people to be fired. The golden rule in a downsizing exercise is: “ Do not do unto others what you do not want others to do unto you”. For one day, you may be the one t
Everyday I meet small business owners who delegate their marketing responsibilities to a third party and tell me “oh, our marketing guy handles that.”“Handle what?” I ask, then they usually tell me “oh our advertising and other stuff”.Whether you like it or not, whether you perform actively or passively, your business is always marketing.That’s not to say that you should “advertise” everyday. But it means that everything you do in your business should integrate to educate your prospects
One turnaround manager, Randall Wright Patterson of BBK, Ltd, compared rescuing a failing company to saving a row of burning houses. “If you try to fight the fire from the beginning of the row, you will simply follow the fire and you will never put it out.
Sometimes you have to let the first three or four houses burn. During that time you design and put in place a plan of action to save the runaway business, a ‘fire wall’ per se, to save the remaining houses on the block.” Similarly, if you do not downsize the 10% of the workforce, you may not save the balance of 90%.
But one has to manage the aftermath of the downsizing exercise with due care. As the saying goes: “Even rats will desert a sinking ship.” Haemorrhage or the exodus of good calibre staff may take place and deal a quick and severe blow to the company’s vital organs.
You must try to quickly re-establish the trust of the existing staff after a downsizing exercise. Silence is not golden here. Communicate to the staff the reasons for this exercise and the plans to resuscitate the company around. Be humane in treating the people to be fired. The golden rule in a downsizing exercise is: “ Do not do unto others what you do not want others to do unto you”. For one day, you may be the one t
If you’re putting together a display for an upcoming convention or trade show, consider these three rules: keep it simple, keep it colorful, and keep it dramatic.Conventions and trade shows generally take place in huge rooms, and small, overly busy displays can get dwarfed by the surroundings and by other displays. Your display needs to be sized proportionally to fit well with the other displays, and whatever lettering and photos or other art work incorporated into the display need to be seen and read or un
But one has to manage the aftermath of the downsizing exercise with due care. As the saying goes: “Even rats will desert a sinking ship.” Haemorrhage or the exodus of good calibre staff may take place and deal a quick and severe blow to the company’s vital organs.
You must try to quickly re-establish the trust of the existing staff after a downsizing exercise. Silence is not golden here. Communicate to the staff the reasons for this exercise and the plans to resuscitate the company around. Be humane in treating the people to be fired. The golden rule in a downsizing exercise is: “ Do not do unto others what you do not want others to do unto you”. For one day, you may be the one to be fired too.
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