It's a sign of the times that a salary cut is welcome; the alternative -- a pink slip -- is grim. Jobs are scarce; the economic outlook is bleak but the bills still have to be paid. Under the circumstances, it is no wonder that people are doing their best to hold onto their jobs.
A recent survey by TeamLease, conducted keeping the current slowdown in mind, came up with some interesting findings. The respondents included both employees and HR personnel, ranged in the age group 22-45 years, across various departments.
According to the survey, companies are using the twin-pronged strategy of additional responsibilities coupled with salary cuts get the maximum value out of their employees. There have also been additional changes like stringent performance metrics and cutting costs on infrastructure expenditure. Read on. . .
Is your company cutting costs?
How is your company coping with the financial crisis? What are the cost-cutting measures that have been implemented? How has it affected employee morale?
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Image: Wipro's Bangalore campus. | Photograph courtesy: FastCompany.com
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