RegulationAccounting StandardsPractices fail to consult staff about recession-beating plans

Practices fail to consult staff about recession-beating plans

Practices fail to include staff in discussions of how to beat the recession

Four out of five practices have come up with strategies to deal with the
downturn but have failed to consult staff on formulating their plans, according
to a survey by Kato
Consultancy
.

The practice consultancy found that 84% of the 200 firms in its survey had
not consulted staff when putting together a strategy to deal with the economic
crisis.

Yet the firms expect to increase the effectiveness of partners and staff as
one way to see through the crisis.

‘Despite the fact that increases in speed and efficiency of work feature
strongly in the majority of these strategies, the staff who will bear the brunt
of the work required for implementation have not been consulted,’ Kato stated in
its survey results.

Only 22% of those firms expect staff will perform effectively in the current
crisis.

Two-thirds expect to see turnover decline compared to the previous year, and
55% expect to reduce employee numbers through a recruitment freeze or
redundancy.

Four in ten respondents expect clients to ask for extended credit.

Further reading:

Visit
the blog of Kato’s Phil Shohet

Visit
Best
Practice

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