Cost Control Measures to ensure minimum impact to Business During Downsizing due to Global Economic conditions
How Important is for Organizations & HR teams to re-strategize and focus, previously COVID pandemic and now downsizing due to Economic Climate across the Globe
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Be it COVID19 pandemic previously or ongoing Economic conditions has impacted multiple sectors across the Globe. HR functions though impacted first in any situations, also had to play a key role amidst the ongoing recession type scenario. Be it Hiring or Downsizing, by wearing multiple hats to ensure the Organization goes through such situations smoothly and at the same time, keep the organization's morale high & focus on employee's performance
First, The pandemic and now the ongoing economic situation has taught Organizations to focus on such unforeseen challenges besides planning ahead. HR team can play the role of a catalyst besides doing their regular duties.
The learning from the ongoing economic conditions is for every Organization's to review, re-strategize and overhaul their Strategies, Business Process and Vendor engagement models, try to reduce the expenses & overheads wherever possible
Though the situation is alarming due to job crisis and impact to human lives, Business still has to continue as usual however this is also a time, where Organizations shoud re-look, re-strategize to avoid such mistakes repeated in the next such situation.
Organizations can also consider this as an opportunity to re-look at "Business Expenses" including vendors and re-negotiate the contracts or alternatively look at new vendors, who can offer more value for the buck.
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HR Team can look at the following practices to reduce their Hiring overheads to maintain a balance and also justifies their existence within the Organization
1. Look at opportunities to Cut Operational Costs
2. Maintain a Minimum team, improve and increase producitivity
3. Improve internal Training programs
4. Reduce spending on Non-Priority items
5. Re-negotiate Vendor Contracts
6. Explore & Collaborate with NEW Vendor Partners, who can add value by reducing & minimizing expenses
The Learning from the pandemic & ongoing recession like conditions is to engage vendor Partners, who can assist to SAVE TIME, EFFORT & MONEY and also reduce every other associated cost to keep Business expenditure at Minimum, Be it Rain or Sunshine
THE HIRERER Advantage -
At HIRERER, Our Strategy and Business Model is fundamental in helping our customers by supporting them in every situation and provide more value for their money.
We clearly understand that our customers spending decisions are largely driven by the business conditions & budgets, Therefore we offer multiple options to reduce their "Business Expenses" thus creating a Win-Win situation with easy to engage and dis-engage model without additional headcounts to their Organization.
SMART BUSINESS Not Only Survive but also thrives, irrespective of the conditions & situations driven largely by making Smart decisions along with relevant actions, SMBs/ SMEs partnering with HIRERER.com
are at an unique advantage vis-a-vis other vendors. Access to RENT-A-HR model for defined period with the hiring expertise and Budget-Friendly Pricing along with Dedicated Customer Support to Fulfill either Hiring or Downsizing Needs is hard to resist.
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