Results-only work environments gain popularity.

A few local companies represented in our FEWnet small groups have embraced the concept of ROWE which focuses on results generated from work versus time spent in the office. In other words, ROWE allows employees to work when they want, where they want, as long as they achieve results based on pre-defined metrics. While its implementation involves a dramatic paradigm shift and cultural transformation for most companies, ROWE benefits the employer, the employees, and even the environment by:

• Encouraging work-life balance for employees
• Increasing employee loyalty and satisfaction with work
• Improving employee health and wellness
• Increasing productivity and efficiency of employees
• Making employees’ pocketbooks and the Earth happier through fewer daily commuters on the road
• Saving employers money by decreasing voluntary turnover and fewer employee sick days

Strategies for cutting costs in the workplace.

While many organizations were hoping for a “once and done” approach to layoffs and other employee-impact cost reductions, some are finding that one round may not be enough. In an effort to curb second-round layoffs, organizations have put into play a variety of effective and creative cost savings measures. Given the current economy, many companies are finding employees to be relatively flexible with these strategies knowing that they’re short-term solutions with long-term benefits. Here are a few cost cutting examples discussed in our FEWnet groups:

• Salary freezes or cuts
• Mandatory 4-day work weeks
• Unpaid time off
• Reduced or short-term hiatus on 401(k) match
• Reduced bonus or profit sharing opportunities
• Limit or halt non-essential business travel
• Limit excessive spending from office supplies to food – instead of company-paid lunches, potlucks are gaining ground

Staying up while the economy is down.

Many economists are changing their tune and referring to this recession’s recovery as “U-shaped” instead of “V-shaped” – meaning the recovery will not be a dramatic upswing. Knowing that we could be in the trenches a bit longer than expected, our FEWnet groups enjoyed sharing the ways they maintain perspective and stay positive:

• Seek out good news (it’s out there, if you know where to look!) – Sources such as www.happynews.com or www.goodnewsdaily.com focus only on uplifting, smile-worthy news stories.
• Exercise – Getting endorphins flowing has a positive effect on your outlook, so the next time you could use a boost, try a brisk walk around the block.
• Meditation – Taking deep, calculated breaths and clearing your mind from the busyness of life can have a revitalizing impact on the way you view the world.
•  Make a difference – The beauty of community service is that everybody wins. You feel good about volunteering your time or talent to a worthy cause and the cause benefits from your generosity. What better way to lift your own spirits than giving back to those who need it most?

An update on eXtensible Business Reporting Language (XBRL).

Our FEWnet groups discussed recent survey results that find the majority of CFOs and senior comptrollers of public companies have no plans to use XBRL, despite an SEC mandate requiring its use as early as June of this year and no later than 2011. While most companies (65%) interviewed consider themselves familiar with XBRL, only 12% currently report financial results using XBRL. Many in our groups found these results to be consistent with their own organizations and don’t have plans to implement XBRL reporting in the near future. Time will tell on this one, and we think there’s more to come on this topic.

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