When many small businesses find themselves in a financial rut, it is common for them to either completely eliminate or cut corners when it comes to their HR practices. Though it may help reduce costs in short-term, it certainly does not help the company itself in the long run. In a piece for Entrepreneur, Burton Goldfield, President and CEO of an HR outsourcing company, “highlights four areas where you should never slack: use mid-year reviews to manage expectations, recognize and reward good performance, watch workplace morale, and protect your benefits.” Goldfield explains that mid-year reviews are a good time to be honest with your employees. They may think the company is in a worse financial state than it actually is. It is also a good time to recognize and reward non-monetary performance. Distribute title promotions or allocate responsibilities across the board. Though workplace morale is not something you can measure statistically, it is something you can observe and control. You do so by providing your employees with perks or team-building exercises. When the job market picks up again, those employees who felt ignored will essentially be the first ones to leave the company. Finally, many companies tend to cut costs by removing benefits in their benefits package. There is no other way to push employees away then drastically changing their benefits for financial purposes. Consult with an HR professional to find a way to cut benefits while still retaining a competitive package.