Pay Cuts as a Viable Alternative to Layoffs: Determining What Works Best for Your Organization

Pay Cuts as a Viable Alternative to Layoffs Webinar Recording

By most accounts, the economy is on an upswing, although the recovery process is slow and employees aren't that optimistic. About 50 percent of U.S. workers believe benefits will be cut in 2012, 24 percent think a pay cut may be coming soon, and 41 percent believe that layoffs are on the horizon.

Despite these grim projections, two-thirds of employees see a future at their organizations and would be willing to lose their bonuses or work longer hours just to keep their jobs. Assuming that’s true, there’s a good chance that your top performers could stick around even if you need to cut their compensation in the short term -- which could be a viable option for organizations facing layoffs.

But are pay cuts right for you? By participating in this interactive webinar, you'll learn an effective strategy for determining if pay cuts will work for your organization, the risks and rewards of this approach to boosting your bottom line, and the best practices for communicating your changes without disrupting your workforce. 

Participate in this interactive and timely webinar, and you'll learn:

• Data to collect before determining if a pay cut is the best option for your organization
• Tips for determining how big a cut you should make
• Whether your cut should be limited to executive-level employees, made across the board, or on a tiered basis
• The pros and cons of voluntary pay cuts
• The types of incentives you should consider offering when a pay cut is necessary
• Whether a salary freeze is a viable alternative to pay cuts -- or just a temporary fix
• When and how to communicate pay cuts to your workforce
• How to tell if layoffs are a better solution for your organization than pay cuts
• Why employee buy-in is absolutely essential if you're planning on cutting pay and how to go about getting it

In just 90 minutes, you'll learn the ins and outs of pay cuts and whether or not they're a viable strategy for your organization. Register now for this timely event for both supervisors and HR professionals.

Pay Cuts as a Viable Alternative to Layoffs: Determining What Works Best for Your Organization

About Your Speaker:

Mary Anne Kennedy is the principal consultant at MAKHR Consulting, LLC, a New Jersey based full-service human resources advisory firm. MAKHR Consulting provides small- to medium-sized business owners and employers with the full spectrum of HR services and programs, including all aspects of talent acquisition, from the full cycle recruitment process to succession planning and performance management.