If you are preparing for the downturn by cutting costs, consider the advice of Mike Elgan. In his article on “Three Ways SMBs can Survive the Economic Meltdown“, Mike highlights three alternatives to layoffs that can help reduce the overhead costs of running a business:
- Send people home. Companies often consider transport and associated costs as included in employee pay. Consider cutting a portion of this pay and let employees work from home.
- Use all the on-line tools to travel virtually and collaborate without actually leaving home.
- At the extreme, consider closing your office and becoming a Bedouin organization.
I like these ideas but I have to ask, why wait for a downturn?