CFO’s don’t think 2009 will be the year of recovery – “83 percent predicting we won’t see relief until the first half of 2010 or later,” according to the TechJournalSouth.

Options CFO’s  are considering or using to avoid layoffs include:

1. Redistribution of responsibilities;
2. elimination of bonuses;
3. restructuring;
4. reduced payroll and
5. options to telecommute.”

Reduced payroll can include: shortened work weeks; no overtime; mandatory time off; pay cuts. Although employees get disgruntled with these measures, a frank discussion with employees should help everyone understand that it is far better to take a little less now than to be unemployed altogether.

In reports I am seeing, companies are refraining from touching health benefits but are suspending 401K matches and other monetary benefits.

And here are twenty more from TechRepublic’s article “Layoff: A Four-Letter Word in Any Economy,” by Steven Martin, president of Profit Professionals of Business Solutions – The Positive Way.

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In this article from the Seattle PI, Leaders shouldn’t be silent in tough times.

1. Wise leaders understand that emotions are contagious.
2. Discuss relevant matters openly and appropriately.
3. Keep your people connected – Face-to-Face not all electronic.
4. Reduce physical and electronic clutter.
5. Offer skill development, coaching support and training for your people.

Overall, just manage by walking around and connecting with your employees. Be authentic and transparent if you can.