(Business Lounge Journal – Human Resources)

All organization knows that they need to slim a bit right now, because they will need this saving to survive. But what they will need to avoid is to do the cost-cutting in the short-term, then they forget that they will need to rebound later. Leadership is now standing between liquidity they will need to survive, but also solvency. How do they cut their fat without cutting the muscles?

Joanna Jordan, Senior Principal of Korn Ferry Indonesia explains about 3 waves that are needed to take by the leader.

1. Related to technical things, for example to eliminate travel, annual meeting, annual sales meeting, or cut down some bonuses, re-prioritize some projects and technology investment.

2. A lot of companies in Indonesia and Asia Pacific try to revisit their operating model. Demand will be impacted to the activities on the organization. Identify some activities which underutilized, also the redundancies activities. The impact will be a workforce reduction. Other thing also to analyze the reward without hurting the best employees. It should be based on performance analysis.

3. Revisit our business model. For example some commercial flights that try to divest some of their subsidiaries, or some corporate that try to see whether they can streamline their distribution channels.

Listen on the spotify: BUSINESS LOUNGE JOURNAL TALK, EPISODE 1: COST OPTIMIZATION DURING PANDEMIC

Joanna Yordan, Senior Principal Korn Ferry Indonesia

Leave a Reply

Your email address will not be published.