The current pandemic has severely affected everyone around the world. Even businesses that used to thrive have ended up closing their doors. Others tried to get back on their feet and made the most of what they have. Your company might also be among the casualties of the closure orders due to the pandemic. You haven’t had any income over the past few months. As you try to resume operations, you have no choice but to reduce operating expenses.
You can’t spend the same way you used to since the company still has to wait for recovery. Informing your employees about potential changes due to cuts in expenses could be challenging.
Let them know that their benefits aren’t the first to go
If you decide to let go of your employees and scale your operations down, you have to let them know right away. Don’t keep your employees hanging since they also have families to feed. If you decide to keep them, you can’t drastically reduce their income. Let them know that you’re going to keep them, and their benefits will stay the same. You can’t keep your employees because they do an excellent job, and not pay them what they deserve.
Ask for everyone’s cooperation
Due to the limited income, your company has to forego business trips. You might also cancel all other parties and activities scheduled for the year. It might be painful, but you have no choice. The items on your list of non-essential expenses should go first. Tell your employees that you didn’t want it to happen, but you hope for their cooperation and understanding.
You might also need everyone’s cooperation on the use of office supplies. Everyone needs to be more cautious about the use of supplies. If unnecessary, employees shouldn’t use whatever is available. These supplies have to last a lot longer since you can’t afford to keep spending money to buy them. Consider www.aosonline.co.uk if you want quality supplies you can afford to buy if your current supplies run out.
You have to let everyone know why you’re planning to reduce the expenses. You should also be honest about the status of the business. If you’re barely surviving, everyone has to know. You can’t keep your employees’ hopes up, and declare in a few months that your business is going to close. Make them involved in the process if possible.
When telling your employees about these plans, you can’t look defeated. Instead, you have to be the most optimistic person in the room. Given the current situation, your employees are already in a bad mood. You don’t want to make it worse for them. Tell them about your plans, and the clear path to recovery. It might not guarantee results, but you know what to do. It gives them hope and also motivates them to do their share.
Recovering from this devastating pandemic isn’t going to be easy. You will have to make several sacrifices and hope for the best outcome.