Dec. 08, 2009 Â– Washington, D.C. Â–- The struggling economy has left companies large and small to struggle with the best ways to reduce costs and protect their bottom line. Many organizations have resorted exclusively to layoffs Â– a painful and often ineffective method of trimming expenses during a cyclical downturn. This heavy reliance on layoffs is contributing to a national unemployment crisis that is further eroding business, thus jeopardizing a timely economic recovery.
Based on experience with voluntary labor reduction efforts in past recessions, a group of work-life experts have created the Flexible Rightsizing Cost/Benefit Analysis Tool, which is designed to help human resources managers guide their leadership to make the most appropriate decisions about reducing costs while preserving the talent required for enterprise success. Examples of Flexible Rightsizing techniques include furloughs, reduced workweeks, sabbaticals, telework, pay cuts and team approaches to cost reduction. Developed through a collaboration led by Alliance for Work-Life Progress at WorldatWork, the contributing organizations include Accenture, FlexPaths, Roundtree Consulting, WFD Consulting and Work+Life Fit, Inc.
“Flexible Rightsizing adds to a company’s agility and increases workforce engagement by involving key stakeholders in the process,” said Kathie Lingle, WLCP, executive director of Alliance for Work-Life Progress. “It is a set of workplace practices that can mean the difference between success and failure for your company in the long run. The rightsizing tool we’ve developed is a means to analyze which options will work best for you under adverse conditions.”
Lingle will lead an interactive workshop that will provide hands-on experience with the tool during the first ever Working Mother Media Flexibility Leadership Town Hall meeting to be hosted by Credit Suisse on January 27 in New York City.
The Flexible Rightsizing Cost/Benefit Analysis Tool serves as a checklist for HR professionals and talent managers to compare the direct and indirect costs of flexible rightsizing compared to letting people go and rehiring some of them later. Not only will the tool help HR managers and business owners estimate a variety of “subterranean” costs and benefits, but it can also serve as the basis for opening and sustaining a dialogue with management on the best ways to reduce labor costs while optimizing morale, productivity and health outcomes in unusually trying times.
The Flexible Rightsizing Cost/Benefit Analysis Tool was developed collaboratively as a contribution to the Total Rewards profession by:
Diane Burrus, Workplace Flexibility Practice Leader, WFD Consulting
Sandy Burud, Ph.D, Chief Strategy Officer, FlexPaths
Sharon Klun, Director of Work Life Initiatives, Accenture
Kathie Lingle, WLCP, Executive Director, Alliance for Work-Life Progress at WorldatWork
Linda Roundtree, CEO, Roundtree Consulting
Cali Williams Yost, CEO, Work+Life Fit, Inc.
To download the Flexible Rightsizing Tool, click here or visit www.worldatwork.org.
About the Alliance for Work-Life ProgressÂ®
Alliance for Work-Life Progress (AWLP.org) is dedicated to advancing work-life as a business strategy integrating work, family and community. An entity of WorldatWork, AWLP defines and recognizes innovation and best practices, facilitates dialogue among various sectors and promotes work-life thought leadership.
The Total Rewards Association
WorldatWork is a global human resources association focused on compensation, benefits, work-life and integrated total rewards to attract, motivate and retain a talented workforce. Founded in 1955, WorldatWork provides a network of more than 30,000 members and professionals in 75 countries with training, certification, research, conferences and community. It has offices in Scottsdale, Arizona, and Washington, D.C.
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This press release was distributed through PR Web by Human Resources Marketer (HR Marketer: www.HRmarketer.com) on behalf of the company