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100 WAYS: #37 Lease Your Employees to Other Business
– July 19, 2010
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.
Walker Coburn
318.429.2109
wcoburn@hmvcpa.com
Walker is a Senior Auditor 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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