Credit in the '90s

Article Abstract:

Credit will still be available in the 1990s, but it may be characterized by slightly higher costs. Borrowers may have to develop original ways of finding lenders, and lenders may evaluate borrowers more closely. The percentage of credit offered by savings institutions will continue to decline during the early 1990s. Most experts believe that credit-worthy consumers and commercial borrowers will have no trouble obtaining credit, but other borrowers may face tougher credit qualification guidelines. Growth will occur in industries that support credit, including credit grantors, third-party processors, and credit bureaus. Credit bureaus will become more influential in credit arbitration. In addition, the early 1990s will be characterized by new techniques for collecting, managing, and disseminating credit reports.

Finance, Forecasts and trends, Financial institutions, Credit, Credit management

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Cut back on jobs, but not people

Article Abstract:

Companies that are undergoing reorganizations should concentrate on redesigning jobs instead of dismissing employees. When Household International, a financial services and consumer insurance firm, underwent a restructuring in fall 1990, 129 workers were displaced, but very few lost their jobs. The firm avoided layoffs by matching personnel with jobs that became vacant or were created by the restructuring. The key to success was keeping employees informed of the changes. Employees were offered internal counseling services, as well as access to the employee assistance program and the displacement committee. By Mar 1991, only seven out of the 129 displaced employees did not have jobs, and 70 job openings were still available. The focus of the displacement committee then turned to cross-training of employees.

Management, Case studies, Human resource management, Financial services industry, Financial services, Corporate reorganizations, Layoffs, Household International Inc.

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