Effective cost-cutting
My company is experiencing financial hardship and need to look at ways of cutting costs. I want to avoid making redundancies because I am happy with my workforce. What alternatives are there?
Alternatives to redundancy are being looked at more and more as employers attempt to retain key members of staff. Fortunately, there are a few alternatives to consider before resorting to redundancy procedures.
Staff wages represent the highest cost to a business, so looking at this area is a good place to start cutting costs. Implementing pay freezes or even pay cuts where necessary will save your company a significant amount of money and still allow you to keep your existing workforce. It is
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