Cutting costs v/s Maximizing results? How?

Hi Veterans!

I must thank you for your comments and feedback received through various channels. We are happy that we are gaining momentum in signing the mutual "family-bond" with you.

We always will have challenges and changes with us. Manage cost and maximize the results with efficiency is a bigger challenge.

Sadly, in current scenario of tough battle with CoronaVirus & Recession together, the loss of jobs are at peak. Employers and Employees both are badly hit. Business are at low and survival strategies are being adopted.

I wonder, whether we know the real costs and real revenue in the organizations are to be monitored closely. What are the current support mechanisms?

Many of the business closed down or thrashed to live with a situation of "No Blood" in the system. Few employers are really in great trouble whereas others are only showing "as if their all money is still blocked in Monetization"

There are a few questions that came around me and demanded an explanation to myself. These are :

1. What are the parameters to rate the actionable? How do we do the balancing of the vacuum created?
2. What is the cost of replacement of new employee, whatever the case may be?
3. Whether similar resource with similar experience and eligibility is available at low cost or more?
4. What components do you think contribute to cost of hiring??
5. Is it possible for us to review the retention strategies to manage the cost of hiring or re-hiring?
6. Is it a good practice to Reward Long Service Awards to the loyal employees for their dedication?
7. Is it possible to Reward those who deserve? Whether or No, is it a loss to the organization?

We will also cover a few of the most important burning concerns and remedies which may prove to be useful as good as a Lamp-Post in a stormy Sea, and results showing win-win situation for both, employees and employers.

Yes, these questions will be addressed in my upcoming posts, which will be needing a detailed study and yes, not to forget, that ground reality needs to be verified to arrive at a mutually beneficial solution.

Ladies & Gentleman, in my upcoming sessions, I would be addressing lots of common man issues. You are welcome to join our journey towards excellence with me. I request your valuable suggestions and advice, queries, if any, to gain a break-through in this tough situation.

Jai Hind!

Mahendrakumar

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