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The Headcount Solution

The Headcount Solution

The Headcount Solution

How to Cut Compensation Costs and Keep Your Best People

by N Fredric Crandall & Marc Wallace

Layoffs should always be the last resort of any company requiring deep cost-cutting measures. The authors present a seven-step plan for cutting compensation costs. In this plan, layoffs are just the third of three cost-cutting strategies. If layoffs become necessary, the authors provide hints on treating employees with respect and dignity, and keeping valuable employees in the organization.

What You'll Learn

  • Prepare your organization for what's in store.
  • Plan for three rounds of compensation cost cutting.
  • Decide whom to cut and whom to keep, using objective criteria and real business data.
  • Implement across-the-board cuts in several key areas in an effort to significantly reduce the number of layoffs.
  • Implement alternative work arrangements ? including job sharing, contracting arrangements, furloughed off-site net workers, and temporary assignments for strategic projects
  • Implement layoffs as a last resort, and do so in a way that preserves the workers' dignity and hireability, and sets your organization back on a path to success.
  • Help survivors cope - move forward and get back to business as quickly as possible.
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