How People Analytics Can Help Organizations Thrive In A Downturn
https://www.forbes.com/sites/forbestechcouncil/2020/08/27/how-people-analytics-can-help-organizations-thrive-in-a-downturn/#68ded51440fd Tom McKeown Forbes Councils Member Forbes Technology Council COUNCIL POST | Paid Program Innovation CEO and Co-Founder of TrenData , a leading provider of people analytics software. Whenever the economy hits a rough patch, business leaders' first reflex tends to be cutting costs. At most organizations, the largest fixed cost is payroll, which can account for as much as 70% in a typical corporation , according to compensation provider Paycor. Not only is the decision to let people go a difficult one, but it's also something management must consider in terms of long-term loss versus a short-term gain to the bottom line. That's because in many cases, workforce reductions can cause a great deal of indirect damage to an organization. Below are three often overlooked, but very common, side effects that many organizations have had to deal w...