During an economic recession, businesses react by cutting costs. This often results in staff layoffs. But, according to a recent survey, these cost reductions last less than three years.
To ensure staff layoffs were not pointless and to keep costs in check well past the three-year mark, organizations need to turn to their human resources department.
HR can be proactive and strategic in advising the organization on how to spend their budgets by calculating a few simple metrics. Communicating these metrics to your organization will come with some side benefits, including a relationship with your finance department and a seat at the executive table.