Run Your Business So You’ll Never Need Layoffs

Treat your people as trusted partners.

by

Dennis Campbell,
John Case,

and

Bill Fotsch

by

Dennis Campbell,
John Case,

and

Bill Fotsch

June 09, 2020

Andrew Regam/Getty Images

Summary.

An engaged workforce is the best guarantee of survival, especially during market shocks like the one we’re experiencing with the Covid-19 pandemic. Big companies, especially those that favor stock buybacks and lean balance sheets, can learn from entrepreneurial ventures like restaurants and start-ups that have weathered the pandemic thanks to the ideas and commitment of its people — along with a healthy dose of old-fashioned financial caution.

The recent “Open Letter to Business Leaders,” written by three Harvard Business School students and cosigned by 1200+ MBAs and counting, appears to ask the impossible of the Fortune 500 CEOs to whom it is addressed. “Put your employees first now,” it urges. “Retain them, re-deploy them if needed, and most importantly, pay them.”

DC

Dennis Campbell is the Dwight P. Robinson Jr. Professor of Business Administration at Harvard Business School.
John Case is the author of numerous articles and books on business and economics, including Open-Book Management and (with Corey Rosen and Martin Staubus) Equity. He recently joined the board of the NCEO.
BF

Bill Fotsch, founder of Open-Book Coaching, has helped more than 300 companies around the world learn the principles and practices of open-book management.

Run Your Business So You’ll Never Need Layoffs

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