So many companies are letting employees go in fear of the effects of inflation. What will it do to the bottom line? Will you be able to turn a profit AND scale? Or will you barely make it through?
The problem, besides obviously not have strategic plan in place in order to pivot when adversity comes opposed to caving, is that they forgot a cardinal rule. Measure twice. Cut once.
When you are a business, everything is your fault, yes, even inflation of the economy. HOW is it your fault? Because you didn't plan for it. And because you did not plan you find yourself making rash decisions. Cutting staff, services, and contracts to save a dollar will only cost you in the end.
Imagine, you work years hiring the right staff, training them for the right position, creating a flow and culture they trust then suddenly you have to let them go because you did not do your due diligence with.
Not once did you consider when the winds have died down and it's safe to scale, you need to hire new people to cover the ones you let go. It will now cost money and time, not to mention a lot of initial turnovers, just to get back to where you once were.
You always want to Measure twice and cut once.
Measure the length of the problem.
How long will this last.
Measure the depth of the trouble.
How hard will this hit you.
Measure whether it is worthwhile to hold on to the systems and processes (and people) in place or whether you need to visit that business plan again to see how and when to strategically pivot.