I have just finished reading an article in Forbes magazine with the title How to Manage your Business in a Recession; written by Geoff Colvin. It was in the Jan 26 issue and I loved it.
One of the paragraphs or tips that really related to FMCG people is the one titled Reevaluate people – and steal some good one. The point that is made that is you ask all your employees to take the same hit in terms of salary and bonus then you may have negative impacts. The across the board action give the sense that “we are all in this together team”. But it ignores that fact that you have a number of high performers who are still performing and don’t deserve the same hit as those who are not performing.
It is is time to reassure your high performers and continue to reward them. Otherwise your competitors will be scouting for talent and find your disenchanted “punished” talent.
Remember across the board cuts is not management, it is just reactionary, manage expenditure and people to get the best results.
Tim
Posted under News
This post was written by Tim on April 9, 2009
Loading ...