DID YOU KNOW?💡
6/10 Companies Will Likely Restructure Their Organizations in 2023!
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.
The tech industry has already let go of over 200,000 full-time employees, thousands of freelancers, and consultants between the months of January and March 2023.
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.
🔹 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.
When organizations invest in Outplacement Services they send a powerful message about their commitment to their employees’ overall well-being.
After the Resume upload, you can schedule a call with one of our resume experts.
(Only pdf, doc, docx, and text files are allowed to upload)
By sending us your resume, you will enable us to contact you through the email address and phone number you are providing.
Tired of applying for jobs and not getting a call back?