Due to financial challenges, many companies, at some point, would face a challenging decision whether they would need to restructure and let go of some people or take further risks. The digital sector, in particular, is no stranger to constant reorganization, mergers, and acquisitions attributed to technological shifts and constant trend changes in the economy. Mass layoffs are inevitable as an aftermath of these situations.
Whether the employee anticipated this early on or it comes as a complete shock, getting fired is an unsettling experience. It becomes a significant setback to workers who placed a massive amount of effort into their work, hoping for decent career growth.
While layoffs significantly affect an individual’s career, it also brings a considerable strain to the company. A recent mass dismissal can reduce the morale of the remaining workforce and, in turn, decreases productivity. In terms of future employee recruitment, these events may tarnish a company’s digital employment brand.
Here are some practical ways that will help reduce the impact of layoffs for both outgoing employees and the company:
Invest in Outplacement Services
Most companies fail to realise the importance of providing adequate outplacement support for their outgoing employees. Not only does it improve retention for the current employees, but assisting former employees in their job searches may echo positive feedback and praise for the brand.
These days, not having outplacement support in place causes job seekers to assume that employees are not given adequate care throughout their entire employment cycle. This impression results in the company’s candidate funnel to shrink, and it may lead potential great employees to search elsewhere for job opportunities.
Outgoing employees, on the other hand, should take advantage of this outplacement support for higher chances of getting another job in the quickest time. Outplacement service providers, in particular, have the goal of preparing outgoing employees for career transition, which includes coaching on interview or examination strategies and guidance in finding the right career path for these former employees.
Reassure Remaining Employees
Mass layoffs can be a traumatic event not only for those who got laid off but also for the remaining employees. It is crucial to reassure the remaining employees that they are an integral part of the company.
Recovery from a layoff is faster when managers and employees have equal opportunity to speak freely and ask for some details about what happened. Holding focus groups and employee meetings to facilitate employee engagement are some venues to discuss this matter and be transparent before gossips and doubts proliferate in the work premises.
Invest In Yourself And Sharpen Your Skills
Not everyone can bear to stay unemployed for months and even weeks, especially if they don’t have other sources of income or a family member who can support them. While the time between getting laid off and finding a new job can be stressful, this is a perfect opportunity to ponder on the things you want to do, and take some steps to enhance your skills further.
Potential employers and hiring managers would like to see that you have not been idle during your transition period. Moreover, if you have enough budget, it is highly recommended that you take a course, work on certifications, or learn a new skill. Skills tend to become obsolete, especially in the digital industry, and staying up to date with your qualifications gives you the edge over other applicants.