Blog About Us Store My Library Get Our Newsletter Login

All Options are On the Table

I’ll never forget the day my father, Neil, stood on a box in front of the entire company. He was the President; I was 22 years old and was the entire “IT department.” 90% of the 150 employees worked in the factory.

He stood up and said, “Our company is in trouble, but we have a plan to survive and then grow again. Part of the plan is asking all employees to take a 10% pay cut.

“The senior staff will be taking a 20% pay cut.

“I know that this is not easy for anyone, but we commit to raising the wages back as soon as possible. Any questions?”

After a few complaints, a tall and broad man named “Big John” raised his hand. He said with a crack in his voice, “I’ve been laid-off twice. No one ever asked my opinion or gave me a choice.

“Thank you for asking. I support the reduction 100%.”

Everyone fell in line after that.

The company survived and wages were eventually restored.

The lessons I learned?

  • Employees like to be a part of solving problems
  • Temporary pay cuts, while difficult, can be the difference between survival and failure

Are pay cuts an option now? Yes.

All options are on the table.

E-mail me your comments at [email protected]

Close

50% Complete

Two Step

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.