Cutting workforce costs wisely

Three approaches for strategic workforce cost cutting to improve resilience during times of disruption

When faced with disruption—especially the kind that can impact revenue and economic viability—the first thought for most organizations may be to cut costs. And with workforce being a big component of these costs, it can sometimes feel like the easier option might be to implement across-the-board cuts or hiring freezes to curb spending. But these oversimplified strategies could hurt more than they help.

If organizations want to maintain resilience—and possibly even thrive—during challenging times, they should cut costs wisely. HR benchmarking can help leaders drive a more thoughtful approach that benefits the short —and long—term.

Read Cutting workforce costs wisely to learn:

·       How HR benchmarking can inform business strategy

·       The workforce questions that HR benchmarking can help answer

·       Three benchmark topics that you can use to drive wiser workforce cost cutting decisions

·       How to unlock HR benchmarking data to help solve complex issues

Managing workforce costs is a balancing act. Cut too much and you run the risk of stalling productivity. Don’t cut enough and you can consume profitability. HR benchmarking can help organizations find the right balance—with less risk of the organization losing its footing during challenging times.