Don’t be quick to downsize
Many employers view layoffs as an unpleasant, yet inevitable consequence of a recession, and for certain industries like manufacturing, that may well be the case. Other companies do have options. Just ask your employees.
“Nobody is smarter and more observant at seeing the real nitty gritty of a company than the employees” says Mary Karamanos, Senior Vice President, Human Resources at the Business Development Bank of Canada, in Montreal, PQ. “They often have creative ideas on how to reduce costs, boost efficiencies, improve sales and marketing and identify new markets for your products and services.”