Academic journal article Journal of Accountancy

Golden Business Ideas

Academic journal article Journal of Accountancy

Golden Business Ideas

Article excerpt

A Better Way to Deal With the Layoff Dilemma

In these tough economic times, a company may experience critical cash-flow problems and sometimes have to terminate even talented, loyal employees. It's just a product of the business cycle, and in a few months, the company may desperately want to hire them back. There is a better chance of successfully rehiring employees if they leave on the best of terms. Here are some things an employer can do:

* Go out of your way to help them find a new job. Offer them the use of in-house facilities (office, desk space, phone).

* Say you sincerely hope to rehire them when conditions improve.

* Structure their severance package as generously as you can.

* Go out of your way to provide the most positive references you can--going so far as offering to call the prospective employer to discuss their qualifications.

When Too Smart Is Dumb

While managers who are exceptionally bright can be a major asset to a company, sometimes they also create tensions with colleagues that offset their contributions. It often takes a friendly, more mature mentor to take them aside and point out that they unwisely

* Ignore the views of others with more experience and knowledge.

* Put too much value on their own ideas, neglecting to develop relationships with the people they manage. …

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