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Affected by the epidemic, economies around the world have been hard hit, forcing many companies to face difficult HR challenges. In these uncertain times, companies must efficiently allocate their human resources by adjusting their internal organization structure and salary structure in order to guarantee long term sustainable development. However, the tasks involved in these adjustments, such as downsizing and salary reduction, are not your common everyday tasks done by your HR team. Many companies lack experience dealing with these types of matters and can open themselves up to legal risks if not handled properly.
In this webinar, Business Advisory Services Senior Associate, Chenchen Liu, discusses strategies regarding employee and salary reduction during the Covid-19 outbreak, including legal regulations and case studies.
- Latest labor laws and regulations regarding staff reduction and salary reduction under Covid-19
- Overview of the downsizing and staff reductions granted to enterprises
- How to develop a downsizing plan for different businesses, types of employees, and regions
- Under what circumstances should they be applied?
- Compensation and legal consequences
- Employee acceptance vs layoffs
- Best practices for companies looking to reduce salaries
- Methods of corporate salary reduction
- Legal procedures and strategies
- Case study
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