SOME EMPLOYERS OPTING FOR PAY CUTS VS. LAYOFFS

#coronavirus #COVID19 #FlattenTheCurve #layoffs #PayCuts #jobs
Martin A. Kits van Heyningen opted to cut his employees’ salaries instead of laying off some of them.
The workers at his company, KVH Industries, didn’t just take the move well. They applauded him for it.
“It was one of the hardest things I’ve done, but it turned out to be the best day of my life at work” Kits van Heyningen was quoted as saying in a May 31, 2020 article in The Atlanta Journal-Constitution.
He was trying to keep their morale up. Instead, his workers kept his morale up, the article quotes the company owner.
The ranks of those forgoing job cuts and furloughs include major companies like HCA Healthcare, a hospital chain, and Aon, a London-based global professional services firm with a headquarters in Chicago, the article says.
The coronavirus pandemic has wreaked havoc on employers of all stripes. When people are forced to stay home, very little live commerce gets done.
Because this pandemic is seen as temporary, and because some companies do not want to lose their workers when things come back, they are getting creative about how to keep them.
“Companies learned the hard way that once you lay off a bunch of people, it’s expensive and time-consuming to hire them back. Employees are not interchangeable,” the article quotes Donald Deives, a compensation expert with Willis Tower Watson.
“What we’re seeing this time around (vs. during the last recession) is more of a sense of shared sacrifice and shared pain,” the article quotes Deives.
So how is your work situation during this pandemic? Though nothing is “normal,” some are faring better than others.
It might be a great time to take stock in what you do for a living. Are you able to work from home? Or, can you never work from home?
Is your company losing money because it can’t produce what it normally produces? Undoubtedly, no one saw this coming in time, so there was no way to prepare for it.
But in a crisis, there is always an opportunity to evaluate one’s life, one’s work or one’s well-being.
If you are looking to do something different with your life, or you’ve been laid off or taken a pay cut, there are many programs out there that can enable anyone to make money without having a traditional job. These programs involve work, but can be done part-time a few hours a week – from home when necessary.
To learn about one of the best such programs, message me.
No one wants to be out of work, or take a pay cut. Also, no one wants to get seriously ill, and, perhaps, die.
After the pandemic is considered over, things will probably never be the way they were. Companies are learning to not just adapt to an emergency, but they are finding new, safer ways to do things. That will mean some jobs will not come back..
But you can be the master, or mistress, of your own destiny, if you are open to looking at doing something you may never have thought about doing.
Peter

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