Can Small And Medium-Size Businesses Avoid Layoffs?
Falling consumer demand, tight credit, and problems with cash flow are forcing many small- and medium-sized businesses to operate proactively and tighten their belts. Firms are targeting labor costs and increasing employee productivity, but are layoffs the only answer? Certainly the loss of 524,000 jobs in December suggests many companies are saying “yes,” but according to management expert Jason Zickerman, layoffs come with a big price tag. Besides, there are alternatives.
Mr. Zickerman is president and CEO of The Alternative Board (TAB), which uses peer groups composed of CEOs and owners from participating firms to give management advice to leaders of small and medium-size businesses. The company boasts of 170 offices in locations across the country and the past participation of more than 9,000 business leaders.
Mr. Zickerman’s mantra is “Don’t go it alone.” Peer advisory groups, like those offered by TAB, allow executives to share what are the most strategic practices for addressing business challenges, especially in hard times.”
The discussions among its participating members have generated some solid suggestions for avoiding layoffs, Mr. Zickerman said.
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