1. #1
    Unregistered

    Is it desirable to sustain recession thinking the interest of the employees?

    am running a private company in software company. My company has been recession-stricken. I have a good crew who are very supportive and efficient. Is it wise to sustain the loss due to recession for some time thinking about the interest of the employees rather than sacking few from jobs or reducing salary?

  2. #2
    Kangaroo Array
    Join Date
    Aug 2012
    Posts
    678

    Re: Is it desirable to sustain recession thinking the interest of the employees?

    It is a tough time for the IT industry since the entire world is recession stricken.You have to deal this situation bravely as well as intelligently to sustain in the world market.You should also have patience to deal the situation properly.You have to take certain measures to combat this situation.

    Although it is not wise to sustain losses for a long time but you should have patience for some time and take measures to combat the losses by taking various steps apart from sacking employees from jobs especially the experienced ones.This is because it is difficult to run a company without experienced employees,they are an asset to the company and can help the company in tough situation.

    You can opt for other measures in the beginning to combat the losses like :-
    -Try to cut off the extra expenditure of your company.
    -Try to use all your contacts to get more number of clients.
    -Find out how the other corporate houses are sustaining this recession.
    -Reduce the amount of recruitment by your company.
    -You can use the emergency funds and hold patience for some time.

    -If the amount of losses goes beyond a certain high limit then you can take strict steps like reducing salaries and sacking of employees.

  3. #3
    kaviandy Array
    Join Date
    Jan 2013
    Posts
    42

    Re: Is it desirable to sustain recession thinking the interest of the employees?

    Hi aspirant

    It is very good on your part to think about interest of your employees as very few people think on these lines.
    1) You should definitely give some consideration to your employees also.
    2) But also you should think about your company. A loss beyond a certain point can be bad for your company.
    3) Try to maintain the repuatation of your company in the market.
    4) Try to start some activities where investment is small but profits are large.
    5) Do only that much layoffs which are absolutely necessary.
    6) Try to retain as many employees as possible.

    Good luck

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