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Overview S9 E13 Overview Recession Proofing HR - How to Do More With Less with William Eastman with William Eastman
Book & Series: Recession Proofing Your Business Chapter & Show 4 - Introduction: Recession Proofing HR - How to Do More With Less EPISODE 13: Summary One of the tougher business decisions during an economic contraction is to look at labor costs last, not first. Why is that such a challenge? Because labor costs make up approximately 30% of all costs and are the most controllable. Don’t fall to the temptation of starting here. You might be required to reduce labor costs when there are no other options. If you have analyzed and improved internal processes, it will improve each position and identify its contribution to the success of the business. This will also identify positions and individuals not contributing enough to the bottom line. Before deciding to release these individuals, create new positions identified in value mapping to achieve a high level of robustness in all processes.
Based on your value mapping, create a new "TO BE" for all critical processes and reassign non contributing positions to the new process or steps. Then retrain all personnel from the new / updated SOPs.
Show Objective Given a contracting economy with diminishing business opportunities and inflation devaluing the currency, we will demonstrate the need to strengthen the core of the business to not only survive, but thrive.
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By IBGR onAir Talent William EastmanBook & Series: Recession Proofing Your Business Chapter & Show 4 - Introduction: Recession Proofing HR - How to Do More With Less EPISODE 13: Summary One of the tougher business decisions during an economic contraction is to look at labor costs last, not first. Why is that such a challenge? Because labor costs make up approximately 30% of all costs and are the most controllable. Don’t fall to the temptation of starting here. You might be required to reduce labor costs when there are no other options. If you have analyzed and improved internal processes, it will improve each position and identify its contribution to the success of the business. This will also identify positions and individuals not contributing enough to the bottom line. Before deciding to release these individuals, create new positions identified in value mapping to achieve a high level of robustness in all processes.
Based on your value mapping, create a new "TO BE" for all critical processes and reassign non contributing positions to the new process or steps. Then retrain all personnel from the new / updated SOPs.
Show Objective Given a contracting economy with diminishing business opportunities and inflation devaluing the currency, we will demonstrate the need to strengthen the core of the business to not only survive, but thrive.