resorting to blunt lay off their precious talent. Yes, it is true that
a few companies, including bigheads, have been resorting to lay offs.
However, there are a few companies, which are doing some
brainstorming, coming out with innovative and practically alternative
innovative solutions instead of opting for lay off in the first step
itself.
Following are some of the new ideas practically implemented by a few
innovative companies:
1. Allowing employees to go on a sabbatical while they are paid a
small percentage of their current salary
2. Create a policy where employees would work for only a few days in a
month (30 days) and take a certain percentage of their salary
3. Counseling employees about the ongoing recession and making them
accept to cut a certain percentage of their overall salary
4. Cutting a certain percentage of their variable pay without
effecting the entire salary
5. Identifying weak performance employees, conducting training
sessions for them to improve, while giving them a small portion of
their salary
Like this, every company though lately, started innovating a new way
to retain their talent. Unfortunately, there are still some big
companies, who want to get rid of their excess flab in the name of
non-performance.
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