It was in the beginning of the Great Depression of 2009. We had to make tough decisions about how to “Retain and grow the right People” in a tough crashing economy.
We made a decision to cut everyone’s pay at the company, top to bottom, by 10%. This was done instead of laying off employees. We felt we had the best people on board so we didn’t want to layoff. When we all took the pay cut, we set a sales goal to hit. When we hit the goal, we would get our 10% back. Low and behold, we hit our goal in 6 months, on Tuesday September 29, 2009.
I just so happened to be running the hoopla (our daily get together) that morning. I took all different size paper, sticky notes, easel pad paper, etc,. and wrote the number 10 all over them. I stuck them all over the walls, training tables, floors, white boards — EVERYWHERE. When I started the meeting I introduced the day forever known as “10% Tuesday” and we began to tear up every 10 in the room. The pay cut was over.