Because I am such an avid reader of Miki Saxon’s Blog, I saw an article that most everyone can relate to, even billionaire company owners. As unfortunate as it is, we are in a recession, especially with rising fuel costs and housing crisis that won’t ever seem to bottom out. WIth even the cost of groceries rising exponentially, people are spending less everywhere to save on the things they need. This translates into companies having less money across the board.
During an economic downturn, it makes logical sense for executives to cut costs, and the easiest way to do this is simply to start letting people go. If you fire people, obviously there’s less people to pay, and a company will retain the money they’re used to, with the exception of those people who were fired. Right? Not exactly. Hopefully the people you have on your staff are there because you think they should be there. Releasing them just because the economy isn’t going well will only put these valuable people on someone else’s payroll, so that when the economy comes back, you’ll simply be out the right peole for the job, and people who’ve already been trained in their positions to boot! To read Miki’s entire article, just click here.