Companies that adapt - bizjournals:

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The 40-employee company asked its employeees for input on the cuts and the overwhelming response was: We’d rather have pay cuts than The company decided to tier paycuts so managementt received 20 percent cuts and lower-leve employees would get less significanr cuts. Those making less than $60,000 a year took no cut. “Ww let the people who really need the monetykeep it. And top managemen t took the biggest hit,” said CEO Vito Palmieri. “Thag was really well The company, known by its acronyk EASi — also tied the pay cuts to revenure targets. After a dreadful October, the company made its fourth-quarter targetsz by a couple hundredf bucks at theeleventh hour.
“The first we made it and everybody cheered,” Palmierj said. The company wasn’t as lucky in the firsgt quarter of this year and had to ultimately implemeny thesalary cuts. But Palmieri said in workingt to minimize impacton employees, the company has earned goodwill. “We haven’t lost said Palmieri. “And in fact, it’s been a morale boostetr because everybody feelslike they’rs part of something.” Palmieri said takingv care of the company’s people is an important business strategy.
To that end, the company offerw 100 percent health care for its employees andtheir “It costs us 9 percenr of salary so it’s not but it’s unique today and sends a signal that we’lo do whatever we can to take care of Palmieri said. The company still faces Palmieri said EASi has had to work harder and take longer to close new But the company has managed raisinga $300,000 round of funding at the stary of the downturn from friends, family and employeesa to act as a cushion and directin g its sales force to focus on regional “Focusing on segments that can afforrd your product right now is very Palmieri said.
But the real key to managinfg throughthe recession, Palmieri said: “Keeping the moralee up. Keeping people motivated is very much partof it.”