Dear Friend,
I have gone through the various comments recorded by our Professional colleagues. They are talking about various ideas for cost cutting and I understand significance for most of the ideas and respect the views expressed therein. However, I have different thoughts.
1) Cost cutting per say is not possible for the organisations where expenditure is on bare minimum coverage and they spend money for legal compliance.
2) The skill lies in achieving better quality at minimum cost whether it is Recruitment cost or Training & Development cost.
3) Automation is good but involves lot of initial investment and organisation is asking for cost cutting may not be open to idea of further investment.
4) It is always observed that whichever company introduced VRS or similar measures, the organisation has lost skilled or experienced workforce.
5) Therefore we must apply professional maturity and talk to superiors about the pro and cons of such decisions.
6) If the organisation wants to go ahead with cost cutting then we need to take decision applying professional maturity in consultation with director so that they are also aware of cost cutting may mean loss of quality.
7) I strongly feel that cost cutting thoughts have come because superiors might have observed about wasteful expenditure in certain areas and it would be good to get details of those wasteful expenditure and curb it. HR can facilitate that.
Thanks & Regards
I have gone through the various comments recorded by our Professional colleagues. They are talking about various ideas for cost cutting and I understand significance for most of the ideas and respect the views expressed therein. However, I have different thoughts.
1) Cost cutting per say is not possible for the organisations where expenditure is on bare minimum coverage and they spend money for legal compliance.
2) The skill lies in achieving better quality at minimum cost whether it is Recruitment cost or Training & Development cost.
3) Automation is good but involves lot of initial investment and organisation is asking for cost cutting may not be open to idea of further investment.
4) It is always observed that whichever company introduced VRS or similar measures, the organisation has lost skilled or experienced workforce.
5) Therefore we must apply professional maturity and talk to superiors about the pro and cons of such decisions.
6) If the organisation wants to go ahead with cost cutting then we need to take decision applying professional maturity in consultation with director so that they are also aware of cost cutting may mean loss of quality.
7) I strongly feel that cost cutting thoughts have come because superiors might have observed about wasteful expenditure in certain areas and it would be good to get details of those wasteful expenditure and curb it. HR can facilitate that.
Thanks & Regards