Reinvent the Organization: Increase Efficiency While Reducing Costs
Times of crisis often come with tough decisions for leaders, like the pressure to cut costs. And while budget cuts are something no leader wants to have to do, Quint Studer points out there’s an opportunity here organizations will want to seize. In this podcast episode, Janet and Quint discuss how leaders can cut costs in practical ways and the unique opportunities we can glean from crisis times.
This episode will address questions such as:
What advice do you give to leaders as they face declining budgets and resources?
What are the practical ways leaders can cut costs?
What opportunities should leaders take advantage of in the wake of crisis-related budget cuts?
Protect Resources for People
“If there’s going to be pain, pull the bandage off. If you’re going to have to make a tough decision, pull the bandage right off. I think the biggest mistake anyone makes ever [with budget cuts] is when the first place they go is training. The one thing I never ever cut the budget on was training and development.”