Bonus Instead Of Layoffs!
© Copyright Frank D. Kanu 2000-2008
Don’t you love it when every once in a while a company shows that there is way more to managing a successful business in a tough market then just laying off people?
All the major German insurance companies have laid off—in masses. But VHV Versicherung didn’t limit their costs with layoffs. They tweaked their administrative costs from 20% down to 17%. And then paid their employees a bonus. They also managed to gain more market shares in the market.
Technorati (All Links are external): administrative costs bonus cooperative insurance companies layoffs love market shares masses successful business tough market tweaked vhv versicherung business ethics leadership
Don’t you love it when every once in a while a company shows that there is way more to managing a successful business in a tough market then just laying off people?
All the major German insurance companies have laid off—in masses. But VHV Versicherung didn’t limit their costs with layoffs. They tweaked their administrative costs from 20% down to 17%. And then paid their employees a bonus. They also managed to gain more market shares in the market.
Do you think other companies will take a look?
And learn from this?
What do think how much influence it had that VHV Versicherung is a cooperative?
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administrative costs bonus cooperative insurance companies layoffs love market shares masses successful business tough market tweaked vhv versicherungTechnorati (All Links are external): administrative costs bonus cooperative insurance companies layoffs love market shares masses successful business tough market tweaked vhv versicherung business ethics leadership
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