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K p mg (UK) has proposed the terms, employees volunteer to take a long vacation with pay 30% or a reduction in working days into the remaining four days a week. The two terms are a strategy to maintain relationships and reducing the expense of salaries linked to the cost of the company7 days/week.Khaphi mg (UK) has proposed conditions to employees who volunteer to take pause with 30% wages or reduce working days into the remaining 4 days a week. Two conditions in order to maintain relationships and strategies to reduce salary expenses with the expense of the company.When the economy is in a recession. Employers should look for a way to manage a business with an organization so that it can recover.Of course we all said this before the GFC - but when the GFC kicked in, businesses looked for creative ways to hold onto talent in anticipation of an economic recovery.And here we are, 12 months down the track, confidence is returning to the market and the green shoots of economic growth seem here to stay (according to the Mid-Year Economic and Fiscal Outlook data released on November 2).The question is whether these two insights will remain top-of-mind, and whether they have generated deep-seated cultural and behavioural changes.K p mg (UK) has proposed the terms, employees volunteer to take a long vacation with pay 30% or a reduction in working days into the remaining four days a week. The two terms are a strategy to maintain relationships and reducing the expense of salaries linked to the cost of the company.So to help the bottling process, the aim of this article is to identify the lessons we have learned:1. Flexibility = cost containment: When the GFC first hit, businesses responded with internal edicts to contain costs, and we found companies thinking creatively about flexible work practices such as telecommuting and video-conferencing (VC), as part of the solution.Instead of maintaining expensive (and sometimes under-used) floor space in CBD locations, and requiring staff to spend excessive time travelling, businesses learnt that working from home and VC options could help contain costs.I remember talking in December last year to one staffer in UBS (USA) who said that she no longer maintained two offices in two different cities, but had dropped back to just one office, which had reduced her commuting time and rental costs.2. Flexibility = cost reduction: When the GFC started to bite, businesses looked at ways of reducing their costs. Given past experiences we could have expected that the need for cost reduction would automatically result in lay-offs, and for some businesses this was the response. Yet something unique happened. As businesses had just come through a skills shortage they were motivated to retain talent whilst also reducing costs.The outcome? Another reach for flexibility - this time longer summer holidays, sabbaticals and part-time work.KPMG (UK) for example asked staff to volunteer for long term sabbaticals on 30 per cent pay or work four days per week as a strategy to maintain connections and reduce salary associated costs.3. Flexibility = engagement: When it looked like the GFC was here for the long term, staff morale began to plummet and business confidence was at its lowest ebb. As one HR manager in Citigroup described it to me "I'm running a marathon. The staff keep looking to me for the answers, and I have nothing to say".I noticed that some businesses were starting to make the connection between flexibility and engagement, realising that when staff have more than just work in their lives (ie they are "dual centric") their resilience improves.It works like this: if the work domain of an employee's life is difficult or stressful, they find support via another more enriching domain, for example family or sport. Hence, providing staff with some flexibility to spend time with the family, or pursue an interest, helped lift their spirits, and created a more productive work environment.
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