21-05-2025
We need to cut costs but it's difficult to get my team on board
Q: We are experiencing revenue decline after several years of double-digit growth. We need to cut costs but I'm finding it difficult to get my senior leadership team on board. Most of them have not been through a downturn before. Any ideas?
A: This is a very common problem. About half of UK organisations are looking to reduce costs as a result of economic headwinds, surveys suggest.
This isn't easy and addressing it requires considered strategic, cultural and operational change. In good times, people get used to seeing their teams and their budgets grow.
As an executive team, you need to treat this as a big change and deliver that message consistently from the top. You need to involve the whole organisation. It takes time
