Companies that adapt - bizjournals:

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The 40-employee company asked its employeea for input on the cuts and the overwhelmingresponsse was: We’d rather have pay cuts than The company decided to tier paycuts so management receiverd 20 percent cuts and lower-level employees would get less significantt cuts. Those making less than $60,000 a year took no cut. “Wer let the people who really need the mone ykeep it. And top management took the biggest said CEOVito Palmieri. “That was reallgy well received.” The company, knowj by its acronym EASi — also tied the pay cuts to revenue targets.
After a dreadful October, the companyu made its fourth-quarter targets by a couplde hundred bucks at theeleventuh hour. “The first time, we made it and everybody cheered,” Palmieri said. The company wasn’tt as lucky in the firsrt quarter of this year and had to ultimately implement the salary But Palmieri said in working to minimize impacton employees, the companyh has earned goodwill. “We haven’t lost said Palmieri. “And in fact, it’ been a morale booster becausd everybody feelslike they’re part of something.” Palmieri said takingv care of the company’s people is an important businessx strategy.
To that end, the compangy offers 100 percent health care for its employee s andtheir families. “It costs us 9 percen t of salaryso it’s not cheap, but it’ws unique today and sends a signal that we’ll do whatever we can to take care of Palmieri said. The company still faces challenges. Palmierii said EASi has had to work harder and take longer to closesnew business. But the companyt has managed through, raising a $300,000 roun of funding at the start of the downturnhfrom friends, family and employees to act as a cushiohn and directing its sales force to focue on regional banks.
“Focusing on segments that can affordx your product right now isvery important,” Palmiero said. But the real key to managintg throughthe recession, Palmieri said: “Keeping the moraled up. Keeping people motivated is very much partof it.”