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I Told You So
By Ron | November 12, 2009
Remember when I told you that some great companies avoid layoffs by freezing or cutting employee pay and they still are able to maintain good morale? My example has always been Hewlett Packard in the good old days of Silicon Valley. Currently there are three more companies who engage in this practice and they are on Fortune’s top 100 best companies to work for. They are doing well in this recession and have never laid anyone off:
Devon Energy withholds raises during the tough times.
The Container Store freezes salaries.
Scottrade cuts bonuses.
Trust is the glue that keeps the morale high durning tough times. Employees at these companies trust that their employers have their best interests at heart.
Topics: HR | 1 Comment »
November 16th, 2009 at 4:06 pm
Ron, I would like to clarify the information in your post. During Scottrade’s 30-year history we have never laid off an associate. This is due to sound business practices, not cutting associate bonuses. At Scottrade, associate bonuses are determined by revenue and other factors that cause associate bonuses to expand and contract. For more information about a career at Scottrade, visit http://www.scottrade.jobs.
Best,
Amber Talbot, Scottrade Online PR Specialist