THE RISKY BUSINESS OF LAYOFFS IN THE MARKETPLACE TODAY – PART 3
At the time a decision is made to reduce your workforce, all the way through to the re-engagement of your remaining employees, planning remains a critical and meaningful factor in the effort to mitigate the many risks associated with reductions in your staff at any level whether one or a group of employees.
A few key considerations might include:
- Selection process – a prescribed and well thought out process for determining which employees will be impacted is critical,
- Communications – effective and continued communications to all connected and important stakeholders regarding the reduction is essential, and
- Employee Engagement – understanding and supporting the needs of all employees moves the parties forward for respective success.
In addition to following a thorough and judicious selection proves, providing on-going support to the remaining and exiting employees emerges as a strong component to
- Revitalize the remaining workforce to high levels of productivity and contribute to the organization’s future
- Maintain a strong corporate reputation in the marketplace, and
- Retaining the ever-critical customer loyalty.
It takes time and financial resources to develop and implement a sound reduction in workforce strategy that encompasses these elements.
Much like any business decision, it is imperative that these strategies be linked to the organization’s strategic goals.
Yet, multiple research studies and survey data support what many see as “the obvious”—if not managed carefully, companies rarely find the needed balance between cutting the workforce and realizing corporate strategic objectives.
AT CAREER DEVELOPMENT PARTNERS, WE BELIEVE THAT “PEOPLE ARE WORTH THE INVESTMENT”.
For additional information regarding career transition and employee engagement, contact Travis Jones at email@example.com.
For the first two posts, visit the following links:
TRAVIS JONES CEO
Travis has been an entrepreneur and business owner in Tulsa for over 30 years. He is a well-known community servant and is dedicated to providing world-class service for everyone we encounter. Travis is a certified Life Options Retirement Coach and is certified to facilitate and deliver the Manager As Coach Learning Series (MACLS) through CPI. He serves on the board of Career Partners International (CPI) and is an equity partner in CPI, offering a global reach with over 220 offices. Travis serves on the Elder Board at Tulsa Bible Church, on the board of New Life Ranch and is a proud member of Tulsa Executives Association (TEA) and is active with several other organizations serving the community and beyond.