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What should you do with your employee during a recession?
#1
When it come to recession, some better employers are more worried than the employees. Assuming employee is the sole bread winner and they have 5 mouth to feed. Employer have 20 employees with 5 mouths to feed plus their own family it will be 25 mouths to be fed. Moreover once their business fail it is harder for a business owner to look for job than an employee working for 20 years. Employee have job skill but employer have business skill and every body only need 1 head.

In order to save everyone, these are some of the measures you can implement in your company (not now, but when your cashflow start to have problem). Check with your HR if any of the implementation violates MOM regulation. Once of the worse payment during recession is fine by the government.
  • Ask if anyone already have other offer but stay because the boss is too nice, if there are you may ask him to tender for resignation.


  • If anyone already tender for other jobs or their own reason, give them early no-pay dismissal (for employees already sick of you, they will be happy to go off early).


  • Issue additional 2-4 months no-pay leave depending on how desperate you are.


  • Have a temporary pay cut that revise every 6 months (revise doesn't mean revert, just to put their mind at ease).


  • Implement alternate work day but longer shift. Everyone save money including the employee for transport.


  • Talk to your employee as the boss and build rapport, you will need it more than them.
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#2
I would invite them to be my shareholder and use their money to expand my business.
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#3
Hey PAULINA, What type business you have?
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#4
Nice thought...
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#5
Thanks for the post......
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#6
No doubt there are many creative ways to be proposed,

but realistically if your business is unable to sustain these employees during the recession, it mean you have not been preparing well enough for it, you should just retrench them and plan properly for your business model.
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