10 tips for conducting layoffs effectively
Publisher: Randstad RiseSmart
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In business today, layoffs have become a go-to reaction for organizations facing the challenges of technological advancements, overstaffing, and international competition. However, evidence indicates that layoffs seldom assist senior executives in meeting their goals. More often than not, these measures are taken for immediate financial relief, yet the apparent cost savings are quickly eclipsed by negative media attention, loss of expertise, diminished staff morale, increased voluntary departures, and reduced innovation—all of which can negatively impact profits over time. As the needs of the workforce evolve, ensuring that layoffs, if necessary, are conducted in a manner that is perceived as fair and provides a smooth transition for those affected is paramount. The most effective strategies start with a clear statement of the company's values and goals, the establishment of procedures to consider alternatives to layoffs (like redeployment, internal mobility, and skills enhancement), and the preparation for various futures: a stable present, short-term disruptions, and an unpredictable tomorrow. This infographic presents improved methods for delivering layoffs with compassion and dignity.
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