Faced with the need to reduce its workforce by half, Denver’s Pimpernel Strategics bucked the usual trend. Instead of eliminating 50 percent of the staff, it maintained its entire workforce and simply reduced each individual by 50 percent.
“We had to make cuts to maintain shareholder value,” says Chief Condensation Officer Janet Whiteley. “But we’re also a company that cares about its employees.”
By shrinking each person, she says, everyone got to keep their jobs and the company is meeting its goals – and then some!
“In addition to earning 50 percent less, our employees also take up less space,” she says. “So we’ve consolidated offices and are saving on rent and utilities.” She’s also negotiating with the company’s health care provider to secure lower rates.
There are non-work benefits for the staff, too – like saving money on food and clothing, and also being able to buy smaller cars. “It’s a win-win for everyone,” says Whiteley.
Are stockholders concerned that workers who are half their former size will contribute less to the bottom line? Whiteley says that’s not a worry: The company has increased 2017 revenue goals by 50 percent.
“We care about our employees,” she says, “but we also expect them to meet their goals.”
