They've already done the obvious. Most organizations have taken cost-cutting steps such as slashing travel budgets and postponing or canceling major capital expenditures. Many have also engaged in a rash of painful layoffs. Now, some are looking for other ways to further reduce costs while avoiding losing more employees.
Among the tactics being tried are decreasing work hours, condensing workweeks, limiting overtime and sending workers on unpaid furloughs. Others include implementing freezes on hiring and raises, suspending 401(k) contributions, offering enhanced retirement buy-out packages, or a combination of these approaches (Challenger, Gray & Christmas, Inc., 2009).
Read the full TrendWatcher article on the productivity and cost benefits of telecommuting.