Bangkok Post
The first cut is never the cheapest one
Compiled by KHAO Editorial — aggregated from 1 outlet. See llms.txt for citation guidance.
◌ Single Source
Picture a football club having a bad season. Attendance is down, sponsors are asking uncomfortable questions, and the accounts are red for the first time in a decade.
Key facts
- Bersin & Associates tracked what happened the last time an economy this size went through a serious downturn: between 2007 and 2008, US companies cut what they spent developing their people by 11% per employee, from $1,202 to $1,075 — the
- Picture a football club having a bad season
- The board calls an emergency meeting, and the president arrives with a plan already decided: “From tomorrow, we train once a week instead of every day, and we trim the academy and a few contracts
- By the time the Depression ended, Kellogg’s profits were up roughly 30% and it had taken the market leadership in cereal that it has never fully given up since.
- An expense, or an investment nobody priced?
- The cereal aisle proved this nearly a century ago
Summary
The board calls an emergency meeting, and the president arrives with a plan already decided: “From tomorrow, we train once a week instead of every day, and we trim the academy and a few contracts. Do this, and the numbers balance within a year.”
Put that plan to the fans in the stands and the reaction is not in doubt. Nobody watching a struggling team says the fix is fewer training sessions and a smaller academy.