Rewards Strategies that Fit Current Realities

Content Summary

As the economic downturn began to materialize in 2007 many U.S. organizations downsized their workforces to better align costs with revenues. This wave of downsizing was yet another chapter in the “hire… downsize… hire… downsize” book most often written by U.S. organizations. This chapter included public sector organizations, driven to downsizing by sudden drops in revenue attributable to the financial crisis. Research has shown that downsizing usually does not produce the desired impact on costs and on performance (see Responsible Restructuring by Cascio). It also leaves people without an income, which can reduce consumption, exacerbating the revenue shortfalls for organizations.

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