Putting your money where your heart is
I’m sure that many of us are taking the demands of the economic downturn – such as hiring freezes, reduced budgets and limits on travel – with a degree of disappointment coupled with a sober realisation of the necessity of such measures.
But how far would you be prepared to go to safeguard your company’s future? Today I spoke to one head of procurement in the automotive sector who is taking a 10 per cent salary cut in line with the company’s cost-cutting measures.
Maybe he earns so much a 10 per cent cut in salary will be negligible (although I doubt it), but I’m sure there would be many in his situation that would have bolted from the company as soon as the issue was potentially raised.
In my eyes it looks as if he has great faith in his firm, and hopefully they will be able to reward his commitment in the future (providing they don’t go out of business first!).
Would you be prepared to show that much commitment to your company?
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Salary cuts are a dangerous game in my opinion, the good staff with leave, those that cant get another job will stay, its pruning your workforce for worse.
I am sure there are other ways to make such savings.
I noticed that all the jobs advertised in today’s SM (14 May) are in the public sector. Every single one. A sign of the times, as if we needed another one. Is this a first?