How to Avoid Layoffs: Cost-Cutting Strategies for Business

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And to save immediate payroll costs, place salary adjustments and merit-based increases on hold as well. For non-sales staff, halt all incentive payments immediately. Communicate these changes to your employees, explaining that to save jobs, the business must be as lean as possible—therefore, bonuses must be sacrificed. This way, a company can save on its payroll spend while still keeping workers employed.

Minimum Wage Increase: The Positives and the Pitfalls


The difference between the current median rate and projected raise in minimum wage would result in an addition in payroll costs to the tune of more than $450,000 per year. VCPs can earn Amazon workers an 8% monthly bonus and a 16% bonus during the hectic November and December seasons.

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HR Management and Planning. Workforce Leadership. What’s Wrong With Retention Bonuses? Payroll. Workforce. Employee Incentive Programs: Designing the Best Program. 6 Non-Monetary Incentives & Rewards to Boost Employee Motivation. Payroll.