Weekly Roundup: Staff Reduction, Embracing Distributed Sales Teams + More
– MOTIVATION –
“Corporate culture matters. How management chooses to treat its people impacts everything for better or worse.”
-Simon Sinek
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COVID Caution: Staff Reduction in the Pandemic-era–CEOWORLD Magazine
A glimmer of hope flashed when the U.S. Bureau of Labor Statistics recently reported U.S. job losses in May were in line with the months preceding the COVID-19 pandemic. Now, that hopeful glimmer is flickering. COVID-19 infection rates surged in July, reintroducing restrictions that had been eased in most states. Paycheck Protection Program loans and consumer spending are just two factors are expected to constrain hiring and instead prompt staff cuts.
In these circumstances, it is understandable that CEOs are considering staff reductions either by way of furloughs, layoffs or firings. Sometimes staff adjustments are necessary to manage costs and production to match declines in customer demand. CEOs must weigh many risks to achieve tangible benefits that can result from taking action. As they do, there are four important considerations that do not appear on a balance sheet that can have outsized impacts for long-term success.>>>READ MORE
