Cutting to Win: 6 steps for getting employees on your side during cost cuts
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The chief executive of AOL holds an all-employee meeting to discuss cuts in retirement benefits—just as the company announces its best quarterly earnings in more than a decade.
Bad timing, right? It gets worse. Daddy Warbucks blames the benefit cuts on two employees’ “distressed babies” whose health care bills cost the company more than $1 million each.
The big boss eventually apologized, but the damage was done, David Grossman says. Before you’re left cleaning up after a bigwig who stepped in it and tracked it all over the executive suite carpet, get smart. Listen to Grossman.
- The top three drivers of cost management
- What employees want in times of change and how to approach not knowing all the answers
- Prime examples of what to—and not—do when communicating cost cuts and which behaviors can positively or negatively affect your brand and bottom line
- How to use a smart, fair process when cuts are necessary
- How to build a strong business case
- Ways to connect emotionally with employees