Have you ever tried to peel a small potato and still leave enough to eat? It’s the same with a small department trying to trim the "peel" from a budget and leave enough "meat" to get the job done.

Many companies are facing budget cuts during our down economy, and the typical formula is an across-the-board cut of a certain percentage. With materials and supplies being a small percentage of the budget for most financial services companies, staffing reductions are usually inevitable. Managers of large departments can normally shed positions without cutting into too much of the "muscle" because, typically, multiple employees do the same work. If a position is eliminated, other employees absorb the workload through increased productivity. However, the manager of a small department faces a much more difficult task when only one person in a designated position performs a given set of tasks.

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