The Great Recession of 2008 is not that far in our rear-view mirror and its effects are still being felt by many employers. Add the uncertainties resulting from current economic turmoil, and companies may find it necessary to realign themselves for the future by exercising different staffing techniques. These may include: downsizing, right-sizing, or restructuring, layoffs and terminations. HR professionals and management often have to make the tough decision to lay off employees, due to a down turn in the business.
Layoffs are very hard for both employees and employers. Communicating the right message, ensuring business continuity and keeping the remaining employees’ morale positive during the process can be challenging. A layoff must be carefully reviewed to reduce risks of litigation resulting from discrimination charges by the affected employees. In addition to a detailed analysis, companies should consider offering career transition services which can help reduce the company’s unemployment costs by more quickly and efficiently placing the laid off employee. Additionally, career transition services has other benefits such as:
Terminated employees who receive career transition services are less likely to sue their employers
Lowers unemployment costs to the company significantly; employees who receive career transition services gain new employment 50% faster than those that do not have assistance
Support is available to managers and Human Resources on notification day
Assistance with resumes, interview skills and social media searches is available
One-on-one career coaching is available for those employees the company feels will need additional assistance in getting future employment
Helps keep client/public opinion positive
Employees recognize that the company values them
Providing these services also improves morale since remaining staff will feel less apprehensive about being laid off if they know they will get help finding their next opportunity.
#Downsizing #Layoffs #RestructuringBusiness #TerminatingEmployees