Companies that adapt - bizjournals:

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The 40-employee company asked its employees for inpuyt on the cuts and the overwhelmingresponse was: We’d rather have pay cuts than The company decided to tier paycuts so management receivedx 20 percent cuts and lower-level employees would get less significang cuts. Those making less than $60,00 0 a year took no cut. “We let the peopled who really need the moneukeep it. And top management took the biggesrt hit,” said CEO Vito Palmieri. “That was really well received.
” The company, known by its acronynm EASi — also tied the pay cuts to revenue After adreadful October, the company made its fourth-quartet targets by a coupl hundred bucks at the eleventh “The first time, we made it and everybody cheered,” Palmieri said. The company wasn’y as lucky in the first quarte of this year and had to ultimatelyu implement the salary But Palmieri said in working to minimize impacton employees, the compan has earned goodwill. “We haven’ lost anybody,” said Palmieri. “And in it’s been a morale booster becausre everybody feelslike they’re part of something.
” Palmieri said takingf care of the company’s people is an importantt business strategy. To that end, the company offers 100 percenr health care for its employees andtheir “It costs us 9 percent of salary so it’s not but it’s unique today and sendsz a signal that we’ll do whatevee we can to take care of you,” Palmieri The company still faces Palmieri said EASi has had to work harder and take longerf to close new business. But the compangy has managed through, raising a $300,000 round of funding at the starf of the downturnfrom friends, family and employeez to act as a cushioj and directing its sales forces to focus on regional banks.
“Focusing on segments that can afforc your product right now is very Palmieri said. But the real key to managing througghthe recession, Palmieri said: “Keeping the morale up. Keeping people motivateed is very much partof it.”