Hawaii Recovery not Until 2012 or Later, CEO Survey Indicates
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What Are Their Plans
Chuck Sted, president and CEO, Hawaii Pacific Health
During 2009, almost every company surveyed put cost-cutting measures into effect and 42 percent cut jobs.
But 2010 looks a bit brighter. Although more than two-thirds of the respondents said they did not plan major changes in their workforce next year, there were more CEOs saying they planned to hire extra workers in 2010 than saying they planned to lay off more workers.
Some of those hit hard by the recession have started clawing their way back. Coleman has poured money into modern equipment that he says will save him money, even in the short term. He’s also cut waste and streamlined his operations after four years of unprecedented growth, and hunted out a bigger and more diverse customer base, while adding new products.
“We call it our new modernization plan,” he says. “We don’t think the recovery is going to come back any time soon, but we’ve invested $2 million in equipment to reduce production costs.”
Chuck Sted, president and CEO of Hawaii Pacific Health, which operates Straub, Kapiolani, Pali Momi and Wilcox hospitals plus about 20 clinics, said a steady response to managing change that began in 2004 saved his company from layoffs and pay cuts.
“About five years ago, we decided to make prioritizing and managing change two of our organizational competencies, along with clinical excellence, and now we’re at about 95 percent completion.”
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