Here at Personnel Today, we understand the credit crunch is hurting your purse/wallet, as well as your employer's, so we're keeping an eye out for great money-saving tips from the professionals, and will post them as they come up.
This week, financial services company Citigroup has hit the headlines with some fantastic proposals sure to save money, including photocopying-efficiency and limits on how many mobile phones staff have.
The business has been hit hard by the economic
slowdown, writing off more than £20bn over the past 12 months. Last year, the company pledged
to shed 15,000 jobs worldwide, many through what it describes as
"natural attrition".
So it should come as no surprise that next steps should be clamping down on office expenses.
A memo circulated throughout the company demands that "presentations should be printed double-sided to reduce unnecessary paper usage". Employees must also be aware that managers "will be removing colour copiers and printers from the locations where they are not essential".
Better still, client parties and expense claims for more than one mobile device (ie., a new Blackberry as well as one's current mobile phone) will face increased scrutiny in the coming weeks and months. The policy of "One Mouth, One Phone" may become part of policy.
However, buried towards the bottom of the memo is a remark that may signify more problems for HR.
"We can be successful in satisfying the vast majority of our hiring needs through the use of low- and no-fee sources - for example job boards, employee referrals," the bank said.
It is unsure how much of the recruiting budget will be cut, but we doubt it'll amuse John Harker, HR for Citigroup's Corporate and Investment Bank for Europe, the Middle East and Africa. Currently, Citigroup is in the middle of a five point plan which he launched back in March 2005 - "a program of training, development and cultural change" - and will likely be facing cutbacks or changes as well.
So it should come as no surprise that next steps should be clamping down on office expenses.
A memo circulated throughout the company demands that "presentations should be printed double-sided to reduce unnecessary paper usage". Employees must also be aware that managers "will be removing colour copiers and printers from the locations where they are not essential".
Better still, client parties and expense claims for more than one mobile device (ie., a new Blackberry as well as one's current mobile phone) will face increased scrutiny in the coming weeks and months. The policy of "One Mouth, One Phone" may become part of policy.
However, buried towards the bottom of the memo is a remark that may signify more problems for HR.
"We can be successful in satisfying the vast majority of our hiring needs through the use of low- and no-fee sources - for example job boards, employee referrals," the bank said.
It is unsure how much of the recruiting budget will be cut, but we doubt it'll amuse John Harker, HR for Citigroup's Corporate and Investment Bank for Europe, the Middle East and Africa. Currently, Citigroup is in the middle of a five point plan which he launched back in March 2005 - "a program of training, development and cultural change" - and will likely be facing cutbacks or changes as well.
Comments (1)
As HR professionals, we all know Citigroup is courting danger if its new-found commitment to expense savings is targeted only at staff, rather than an example led by the CEO down. The old maxim that comunicating change (to be effective) needs to come from your closest supervisor or manager doesn't seem to be the case here Guy, based on what you tell us about Citigroup's plans. However I'm all for trimming the fat; a Blackberry and a mobile are unnecessary, I'd agree. I think these sorts of issues are important to discuss and I'm glad you're raising them on your blog.
Posted by C Hutzpah | September 1, 2008 2:00 PM
Posted on September 1, 2008 14:00