Summary of the Survey Results

To avoid cutting into the core of a business’ people strengths, numerous initiatives are put into place to retain the best employees. Two approaches are used. The first involves across-the-board cost cutting that ranges from reduction or suspension of pay increases and hiring freezes to actual pay cuts. The more that overall compensation costs can be cut, the fewer number of layoffs will be needed.

The second approach involves identifying people who have important skills and finding alternative ways to keep them involved with the company such as contract workers on temporary assignments or similar approaches. These approaches have worked for hundreds of companies. As the headcount solution unfolds in subsequent chapters, we will relate case studies and experiences of the survey participants as well as simulations drawn from the authors’ experience.