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Lease Your Employees to Other Business
– March 2, 2011
One of the toughest things about a business downturn is having to layoff people who contributed to the success of your company during the good times. It is one thing to fire an individual for not doing a good job, and quite another to have to discharge a productive and trusted employee. Firing good employees should be a last resort.
One technique to keep valued employees, is to “lease” out idle employees to other businesses. For example, a commercial construction company could temporarily “lease” a foreman or surveyor to a residential builder. Company collection managers, accountants, or secretaries could all be “rented” to other businesses for a few days a week, or a few hours a day.
Some businesses might even consider donating an employee to a charity during a slow time. This creates invaluable goodwill for the company and allows you to keep a good employee.
This is Profit Enhancement Idea #37 in Heard, McElroy & Vestal's 100 Ways: The Profit Enhancement Process series. The purpose of the series is to assist business owners and managers in cutting costs and increasing revenues by working smarter, not harder.
Walker Coburn
318.429.2109
wcoburn@hmvcpa.com
Walker is a Audit Manager in our Shreveport office. He received his Bachelor of Administration in Accounting and a Masters of Accountancy from Millsaps College in Jackson, MS. Prior to returning to his hometown of Shreveport and joining Heard, McElroy & Vestal, Walker worked for KPMG in Jackson and Memphis, and more recently as a financial reporting advisor for FedEx Corporate.
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