The Human Cost of Reductions in Force
If you're considering layoffs in your company, you've got a lot to think about. Who will be impacted? What benefits will they receive and for how long? How will your reduction-in-force impact the near term and long term health of the business? For many organizations, one of the last considerations is one of the most important — what's the best way to help former employees transition to the next phase of their career with dignity and support?
Let Us Help Your People Transition to New Employment
If there's one thing we've learned helping companies manage layoffs for decades, it's that a well-planned employment transition process benefits both your organization and former employees. We find that every employee reacts differently during a transition and that a clearly designed communication plan, consistent benefits administration, and dedicated support services over a long period of time, all help minimize the emotional impact. So if you're ready to help and give back to the employees who have given so much of their professional effort to your organization — we're ready to help you keep people working.
Have you also thought about?
- How will layoffs change the corporate culture for employees who stay?
- Will negative online chatter impact your business reputation?
- Do you have the internal resources to manage transitions smoothly for people?
- It's easy to talk numbers and financial impact but what about the people?
- How long do you want to provide support for people in transition?
- How easily can you provide the best experience possible for people going through a difficult change?
- Are severance benefits distributed fairly and equally across all geographies?
- Do you have a validated and audited process for your workforce reduction workflow?
- Could a third party administrator reduce restructuring costs and help people in transition more?
- Have you looked at alternatives to severance plans?
Key Facts to Consider When Planning for Layoffs
- 28 Weeks: The average time between jobs – long after most severance programs and lump sum payments have exhausted
- Almost every organization sees a substantial reduction in productivity not just because of a reduced work force but from the anxiety and 'survivor guilt' for employees who remain with the company
- Clear communication and providing assistance is cited as the key to maintaining the best possible outlook for both employees in transition and addressing the concerns of those still employed