Thanks to the housing crash and the financial scam crisis, many businesses have had to downsize their workforce. But many others are prospering. And hiring.
And the difference between them is in how they “purpose” their people. For example; how many people in your business spend money (creating and delivering products and services) vs bring in money (selling products and services)?
And the oddest thing I see are companies that cut their sales and marketing staffs and budgets because sales are down. They do that because they see their sellers as a simple expense on the financial statements. And somehow they’re unable to make the connection that EVERYTHING on the income side of that statement comes from their sales and marketing people.
If you do it smartly, you can hire and/or retain your people in a recession. And doing it smartly, you can make a bundle of cash in the process. Here’s how: