A Better, More Humane Approach to Layoffs
Are you struggling to keep your business running while letting go of employees?
DID YOU KNOW?💡
Six out of ten companies are likely to restructure their organizations due to the current economic downturn in the job market.
Startups can be especially vulnerable to a reduction in force. Sometimes all it takes is one investor backing out or one mistake to trigger a series of layoffs.
Between January and March 2023, the tech industry had already parted ways with over 200,000 full-time employees, as well as numerous freelancers and consultants. Forecasts indicate a continued rise in these figures over the upcoming years.
Experts predict the worst is yet to come. We know news like this is TOUGH to digest and comprehend!
However, though not ideal, an RIF is necessary to streamline and improve the bottom line growth. As an employer it is essential to do the right thing by taking care of the impacted employees and their families when reducing force and expenses.
Here's a Comprehensive Checklist to Follow During a Reduction in Your Workforce
🔹 Reason(s) for the layoff: Is a reduction in force imperative, or could a reduction in hours meet the needs?
🔹 Contractual commitments: Are affected parties under employment contracts or covered by a collective bargaining agreement?
🔹 The number of people laid off: How will the reduction in force impact the work of the remaining employees?
🔹 Departments involved: How will the layoff impact various departments?
🔹 Use objective layoff criteria: Eliminate discrimination claims by determining how employees are laid off based on performance, seniority, job elimination, and specialized skills needed by the company
🔹 Layoff policy: Will regular pay, severance, vacation pay, or other benefits be paid? How long will health insurance be covered?
🔹 Advance notice: Following WARN and state law requirements.
🔹 Benefits: Prepare and hand out an information sheet to employees regarding what benefits they will have and for how long.
🔹 Unemployment insurance: Provide employees with information on how to collect.
🔹 Outplacement services: Select a partner who offers comprehensive career guidance, and coaching, resume, cover letter writing, and interview coaching with a guarantee and accountability.Â
When organizations invest in Outplacement Services they send a powerful message about their commitment to their employees’ overall well-being.
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As CEO of The Job Helpers, Chui is an excellent partner with leaders seeking outplacement services for displaced team members. Chui and his team will work with the candidate/client to on their resumes, offering good advice not just on formatting, but on content. Chui goes a step further, offering career coaching, interviewing tips, and skill development. I enjoy Chui's passion and positivity. He's a pleasure to work with.
The Job Helpers can support impacted employees in finding employment within 30 days with our 4 interviews out of 10 job application guarantee!
Want to Enhance and Execute a Smooth Employee Restructuring?
Do the right thing by taking care of your impacted employees and their families while protecting your company's reputation.
"My goal is to help Job Seekers worldwide find employment fast."
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