Trimming the team
I think it goes without saying that the economy is bad. And, in a bad economy businesses from every discipline across the world face the prospects of truing up and or slashing expenses. The multifamily space is no different. Payroll being the single biggest expense in nearly any budget is likely the first line item to get scrubbed. I think it important to think about how that line gets evaluated. In other words, how do you go about selecting the team members that get laid off?
It’s a new day and companies are contending with a rapidly changing climate. The speed of that change demands minds that are agile and adaptable. It requires talent.
What criteria are you using to make decisions about laying off team members? Is talent one of them or is it just the last one hire is the first one to go?
