There are Better Alternatives to Layoffs
- DATE: March 31, 2020
- TIME: 11:00 AM - 12:00 PM CDT
- COST: Free
In a span of mere weeks, companies and organizations around the globe are facing a slate of difficult decisions. To include the agonizing question of whether to stay open or close doors and whether or not the company can continue to employ all team members. As business leaders navigate so much uncertainty, one thing is clear: how you react, what you decide, and the communications you send will either strengthen or weaken the business in the long-term. It won’t be neutral. No one can argue that layoffs are an instantaneous way to cut costs. However, the ripple effect can be extreme and long-lasting.
Questions to consider:
- How do layoffs fit with the values you’ve established?
- What other options are you considering?
- What’s the impact to those who stay?
- What will those who leave say about the company?
- What talent, knowledge and skills will walk out the door with those that are asked to leave?
- What will the long-term effects be on your culture?
- How will customer service be impacted?
Individuals who are laid off in today’s current economic environment will be hard pressed to find another job, not to mention losing one’s health benefits when they might be needed the most. What if there was a better way? Shared sacrifice, the idea that everyone suffers a little so that no one suffers a lot, is a concept to consider before implementing layoffs. Used successfully by global manufacturing and professional services organization Barry-Wehmiller during the 2008-2009 economic downturn, and highlighted in the book Everybody Matters, shared sacrifice allows you to retain your top talent, maintain customer service, preserve industry knowledge, and recover faster. Learn multiples alternatives to cutting jobs and how shared sacrifice could be applied in your organization.
Duration: 1 hour interview with questions from the field