Demotions, Salary Freezes, Contract Variations: How Far Can You Go?
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  Running Time: 8:03 Date: 01/03/2012 If you need to cut your labour costs, talk honestly to your employees first - it may save you in the long run How can you save on labour costs without laying people off? And how can you avoid costly industrial or legal costs along the way? Workplace relations lawyer Joydeep Hor, of People + Culture Strategies, says having a good and accurate record of existing contracts and agreements is a good starting point. And transparent, honest communication - explaining the problems the business faces - will help employees understand what's needed. People may be prepared to accept shorter hours or a pay cut, rather than a demotion. But you'll only find out what's achievable by putting your cards on the table. Topics: Human Resources |
 Joydeep Hor, People + Culture Strategies |