Your organisation may have little choice at the moment but to reduce its workforce. Making redundancies brings a number of risks that should be identified and managed to minimise the potential for long-term damage.
The process of deciding to make redundancies, complying with relevant legislation, managing the employee transition, maintaining workplace morale and retaining corporate reputation can be a difficult challenge.
When managing a redundancy process, take time to plan and implement the changes. Avoiding the mistakes made by high profile companies will limit damage to your organisation, exiting employees and remaining workforce.
Executives can face a highly competitive marketplace, limited opportunities and a job search lasting 12 months or longer. Executive outplacement programs are tailored to their needs, and offering them this type of support can ensure their career transition is successful.
If you can select the right outplacement provider today, you will maximise the return on investment for both your organisation and former employees receiving the service.
To avoid having to make people redundant, you may be considering time reductions to deal with the downturn. But across the board cuts in employees’ hours may not be the best solution for your organisation.
In a restructure, decision-making should be guided by considerations such as impact, legal liability and fairness. Then you need to be strategic to retain the talent required for ongoing success.
Rather than a random cull, ensure your organisation’s redundancy process is strategic and above board. Employees should know they haven’t just drawn the short straw. Here are some tips to guide you in making strategic redundancies.
Making people redundant will never be an easy or enjoyable process, but with a bit of forward planning and care it can at least be handled correctly and be as painless as possible.
Staff who remain after redundancies are often impacted, even when their job is deemed safe. These emotions can have long-term implications on staff morale, motivation, productivity and stress levels.