In this series, we’re discussing preparing for economic storms. The fourth and last step I recommend is decreasing payroll.
Many large organizations start with massive layoffs without considering other solutions.
Previously, I worked for a bank that frequently downsized. One year, the bank creatively allowed 40-hour employees to shift to 35 hours a week.
This allowed many working mothers to arrive home earlier for their kids. Their pay decreased, but the result was a better family life.
Many people chose that option, significantly reducing the bank’s payroll expense.
James 1:5 says, “But if any of you lacks wisdom, let him ask of God, who gives to all generously and without reproach, and it will be given to him.”
If you have some tough payroll decisions ahead, ask God for divine wisdom.
