Reduce the costs of absenteeism
Ensure that return-to-work interviews are properly followed. Make sure that absence and sickness procedures are in place, implemented and enforced. Sickness costs need to be kept in check.

Quality recruitment
Even in a downturn in the economy, recruitment must take place. Make sure it is effective. Do not waste advertising costs - use the company web site to place most positions - rely more upon the local network of Job Centres. Only use costly recruitment processes when the essential needs of the business warrant it.

Recruit to retain
Recruitment is expensive so make sure that the chosen candidate is the right one; take time and care to recruit and then make sure you retain that person

A thorough induction
Make sure that the new employee is given a solid grounding in the organisation; tighten up induction procedures.

Performance and appraisal
In a hardening economic outlook it is essential the greatest but most expensive asset of a company - its staff - are working to optimum efficiency. Make sure that appraisal systems are being used effectively to maximise the performance of staff. Make sure that the appraisals and reviews have a positive approach - quality staff morale is crucial in hard times.

Review training needs
Ensure that the business needs are properly served by the training programme. Review the areas of training and ensure that they are still relevant to the current needs of the business. Do the training providers offer good value for money? Are there any more cost effective but still efficient training options? Review all costs and only use the most effective.

Encourage a review of travel
Travel expenses are a major source of cost and potential overspend. Encourage a review across the business. Is that trip necessary at that time, can it be combined with another business trip. Are there better ways to travel? Can the work be done off site, through the telephone, email, video conferencing route?

Prepare for the worst
Ensure that you have a strategy for keeping staff costs down, prepare worst case scenarios for pay costs and staff costs

Prepare for reductions
Have strategies available for helping the organisation through the most difficult periods. Look at lay off and short-time working provisions. Revise and review redundancy knowledge, ensure that you have a good strategy to support staff in a redundancy situation, both those who are going to depart as well as those who will stay.