Are Layoffs the New Normal?
In the U.S., Layoffs of 50 or more employees have impacted more than 1 million employees annually since 1996. Looking at this trend, it seems layoffs have become an unavoidable part of our business world across every industry. But if layoffs have become the new normal, where does that leave companies who want to protect their employees and their brand?
If layoffs are likely to come around at some point or another, the best way to adapt is to be prepared for the event. Here are a few things your organization might want to plan for:
Train your notifying managers
Layoff notification conversations are not easy for either party. It's incredibly important, however, that the notification is done right. A displaced employee's layoff experience starts with this conversation, and it will set the tone for every next step he or she has to take. Notification training can help managers better navigate the best ways to communicate a layoff professionally while also showing sensitivity and concern for the impacted employee. Providing support to managers through this kind of training can help ease their experience throughout the layoff and help displaced employees feel better taken care of during the difficult period of transition.
Provide career transition services
Outplacement was meant to be a solution to the problem presented by layoffs. Unfortunately, outplacement has for a long time been dominated by slow-moving, brick-and-mortar, low-tech service companies – and it hasn't always done a good job at effectively reducing the burden of the aftermath of a layoff. RiseSmart's very own founder, Sanjay Sathe, saw first-hand the gaps in traditional outplacement offerings and felt compelled to create an alternative solution to the career transition for impacted employees.
When done effectively, outplacement can help your organization:
- Reduce unemployment taxes and financial risks
- Reduce outplacement fees
- Protect your employer brand and lead to happier former employees
- Lower litigation risk
- Offer measurable return on investment (ROI)
Tend to remaining employees
Often, the main objects of concern during a layoff are the displaced employees. What you might not realize, however, is that remaining employees can be significantly impacted as well. Remaining employees may feel a range of emotions during and after a layoff: fear of future layoffs, stress from increased work load, anxiety about the organization's future, or sadness for their displaced colleagues. Offering resources, support, and an open line of communication to these employees can go a long way in helping prevent talent attrition down the road.
There are many aspects to tend to during a layoff, but with a little bit of preparation, a layoff doesn't have to be so painful. Here at RiseSmart, we've seen first-hand the toll that layoffs can take on an organization, which is why we put all of our efforts into making layoffs a more positive experience for both the employer and employees.
Don't lose your competitive advantage in today's business world. Learn how RiseSmart can help transition your employees into new roles faster and protect your brand.