48% of companies have downsized in the last three years; only 8% increased staffing.
Doing more with less is the new normal, as companies continue to look for cheaper ways to accomplish the same work. According to a survey from Chronos Consulting, a majority of bosses now believe that streamlining operations via familiar means such as layoffs, outsourced projects, and contract workers actually improves performance, and most say they can deploy smaller teams without hurting results. Some results are more cautionary, particularly those relating to the use of virtual teams and the inherent challenges of communications across time zones and different geographies. That means businesses should move forward carefully…but moves are coming nonetheless. “It is best for organizations to utilize virtual teams after a customized assessment to identify business benefits from that model, as part of an overall strategy for talent optimization,” says Imaad Mahfooz, managing principal of Chronos Consulting. More than 270 companies took part in the research. For more information about the survey, click here.
Dennis McCafferty is a freelance writer for Baseline Magazine.
Some of the products that appear on this site are from companies from which QuinStreet receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. QuinStreet does not include all companies or all types of products available in the marketplace.