[Awesomelife Logo]

Back to
AWESOMELIFE.COM
Main Page
Back to
Retrenchment Mainpage
Email Enquiry

 
RETRENCHMENT
How to Survive and What Can You Do About It?

Some Practical & Effective Advice

You Are Considering RETRENCHING Your Workers?

Is the situation really that bad? Do you really have no other choice? Think of how your workers have served you faithfully. Remember how difficult it was to recruit and train good workers?

Why not sit down and have a heart to heart talk with your workers and work out a WIN/WIN solution? Here are a few alternatives to retrenching your workers:
  • Pay-Cut: Can you keep your business going if all your workers take a 15-25% pay cut? If yes, then propose to them this solution. But, promise them that when the business starts to pickup again, you can slowly make up to them. And remember to honour your promise.

  • Shorter Working Hours & Pay: What about cutting down on the working hours of your workers? While you can save on the salary due to the shorther working hours, at the same time, they can work part-time and earn some side income to make up for it. This might not be easy, but at least, you can keep all your workers and carry on with your business, while your workers' income will not be badly affected. A factory in Malaysia has successfully done this by dividing the workers into two groups and each work a 3-day Week. Another company in Singapore has also done so successfully, but with a slightly different method, whereby workers continued working 5-day weeks but with shorther working hours.

  • Alternative Business: Another method worth mentioning is one that has been very succesfully used by many companies in Malaysia, Singapore and Thailand. This is what you can do - source for alternative businesses. Utilise your current work force to make the alternative business a success. For example, you can diversify into products or services that are related or otherwise, to your current business, without having to spend too much money on it. At least you can make up for losses you suffer and at the same time keep your workers. Who knows, you might even find a more profitable business venture than the one you are currently doing!!!


NO CHOICE?

Finally, if you really have no choice but to retrench your workers, at least make an effort to compensate them adequately for all their hardwork and dedications towards your company. Maybe, when things start picking up, you will be glad they are willing to come back and serve your company again, because you have taken good care of them, even during this tough time.

One of the most generous gesture of a company about to retrench its workers, is to find employment for them. Yes, this is the least you could do. At least, after being retrenched, your workers would not have to worry about not finding a job. This is a good way to say good bye.

This is a difficult period, but everyone can do their part to make the whole thing much easier to bear and maybe leave an option open, for future cooperation again.


This Website Designed, Hosted & Marketed By:
WWW.MALAYSIA-BEST.COM
Internet, Marketing & Business Resources
Note: This website is created with the aim of providing a place for Marketing personnels, executives, students, entrepreneurs, CEOs, COOs, COEs, and business owners to communicate, share and learn from each other, marketing techniques and strategies, business ideas and opportunities. Instead of the traditional "negative competitive mindset", we can all benefit more from a new WINWIN paradigm we call "positive collaboration mindset". Instead of competing with each other blindly, and wasting much precious resources, we can instead work together to produce better products and services that satisfy the increasing expectations and needs of our customers. In the new millenium, only companies that come together to work together will eventually survive and make profits.

Apart from business ideas and strategies, this website will under permissible circumstances, offer reports and articles that help enhance our life. It is often said that we can change our life for the better while at the same time build a better world, if we put to practice our new mindset and make an effort to help others as well, while we are working towards our dreams.

Through positive discussions and exchange of ideas, we can all inspire each other to great heights. The most important thing is that, we believe that we can all help each other in life and to achieve our dreams. Yes, we can all make this world a better place :)

If you happen to come across any broken link on this website, please inform us. Thank you and please come again.

This Website Best Viewed With 800x600 Resolution
Copyright © 1997-99 WWW.MALAYSIA-BEST.COM All rights reserved. All trademarks are the properties of their respective owners. Last Updated on September 04, 1999 Saturday
For further information, please contact: webmaster@malaysia-best.com