Layoffs are common in businesses and can be stressful for both employers and employees. Companies frequently use layoffs as a short-term cost-cutting measure, but they create more problems than they solve. Workers who have been laid off or displaced are those who have lost or left their jobs because their employer has closed or relocated, there was insufficient work for them to do, or their position or shift was abolished.
There are better ways to handle layoff that won’t bankrupt your company. Companies, for example, can consider options such as furloughs, reduced work hours, and pay cuts. These alternatives can assist businesses in retaining employees while also reducing costs.
It is critical to understand that layoffs can have a significant impact on employees’ mental health and well-being. Leaders who claim empathy for those they are laying off are lying to themselves about their role.
How do layoff affect employees?
Employees’ mental health and well-being can suffer significantly as a result of layoffs. A layoff’s immediate financial hardship can affect both a worker’s physical and psychological well-being, as well as cause bankruptcy, depression, and more serious illnesses. Because unemployment can last up to six months or longer, layoff may have long-term consequences.
The person who is laid off is the most distressed, but remaining employees are also affected emotionally. Because the layoff upends the status quo, employees must take on additional responsibilities and form new work relationships, which can be stressful. Employees who work in fear are less likely to be productive.
What are some ways companies can help employees after layoffs?
Companies can assist employees who have been laid off in a variety of ways. Here are some examples:
– Communicate with transparency and honesty.
– Recognize and address emotional needs of employees.
– Invest in the professional development of your employees.
– Foster a culture of belonging.
– Establish clear expectations and career objectives.
– Recognize and reward exceptional performance.
– Lead by example.
Outplacement services are also intended to assist laid-off employees in finding new jobs. Career counseling, resume writing, and job search assistance are common examples of these services. Some companies may even offer on-site outplacement services, which is more convenient for your employees.
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