Wednesday, February 11, 2009

Some advice from The Institute of Directors

1. Retain talentHire today, gone tomorrow? It is important that you remain an attractive employer through the downturn. If you lose your competitive edge, you could be dealt a serious blow.

2. The 6 Rs of Restructure. Restructures can knock your balance. If you need to reorganise your business, make sure you take these 6 factors into account before you start.

3. Consider the alternativesWhat are the alternatives? There is a temporary option that could balance your costs in the interim.

4. Calculate the real cost Panic job cuts could impede quick recovery for your business, with an estimated £16,375 cost attached per employee. Calculate the cost using this formula.

5. 10 downturn survival tips Although fear and uncertainty will underlie decisions, markets will recover. If you're cutting costs, be prepared.