The Human Touch.
The key to managing change is to treat people as human beings.
Faced with cutting costs drastically or closing down, the managing director of a small consultancy made a short presentation to all the employees. She outlines the situation and invited them to discuss their individual concerns.
Three quarters of them did so. One resigned, one retired early and two took a salary cut - in a spirit of complete support for the company. Three months later, the firm was back on its feet, more productive than ever.