6 Tips To Hold Off Layoffs
July 16th, 2010No small business owner wants to cut employees. Providing a means to earn a living to your workers can be one of the biggest satisfactions from being a business owner. However, when the economy tightens up and cash flow slows to a trickle, layoffs always come up as an option just to stay in business.
Thankfully, there are ways to hold off layoffs that can help a small business survive until happy days are here again and still retain all the great workers you have. Here are a few tips.
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Be Straight With Your Employees
At the first consideration of cutting back expenses, hold a company meeting and let everyone know the situation.
When you think about retirement plans, you don’t tend to think IRS. But if your business operates a retirement plan for its employees then the IRS, and of course your employees, expect that you keep it in good shape and optimized for the best financial return. 
