Recovery lesson
March 13th 2010 19:00
Around the middle of last year Bendigo and Adelaide Bank was feeling bottom-line pressure due to declining lending activity - who wasn't - and was staring at what seemed inevitable staff cuts. Faced with similar pressures, Australia's biggest banks had done pretty much what you'd expect: the ANZ bank shed almost 1000 jobs, the Commonwealth shifted jobs offshore and the National Australia Bank closed branches.
The Bendigo found a way to make news for positive reasons: it sacked no-one, and instead asked each of its 4000 staff to take 10 days of unpaid leave over the next 12 months. Bank spokesman Owen Davies described the unpaid leave initiative as "the next generation of thinking around managing expenses''.
Sack the costs, keep the staff.
image: heraldsun.com.au
| 62 |
| Vote |
subscribe to this blog
