Cost Cutting and Productivity

The general saying these days is that the economy is in a bad shape, things are tight and it is becoming increasingly difficult to make payroll. For small business owners, this is evident in the rate at which employees are being laid off, or having their hours reduced. The danger in all this is that cost cutting may be taken to such an extreme level that it is bound to affect productivity in the long run. I remember working very hard to convince a friend of mine to be careful about laying off too many good employees. “Why?” he asked, and my response was, what are you going to do if the work starts coming in and you do not have experienced people to get it out the door efficiently and profitably? (more…)

Share

Comments Off on Cost Cutting and Productivity