People costs account for two-thirds of total budget at most organizations. As organizations look to reintroduce or further cut costs as a result of the pandemic, CFOs must ensure effective investments and cost management as they relate to the workforce.
Gartner research has uncovered three considerations executives must make when assessing people costs:
- The more personal the cut, the greater the negative impact
- Reducing people costs has long-term implications for growth
- Protecting benefits and communicating can help mitigate cuts
Download the article to inform better cost decisions for your employees and organization.