3 Hidden Dangers of Poor Layoffs in Philadelphia
While job openings are at a 14 year high, layoffs have been increasing by 13% year over year for the past four years. Layoffs typically result from restructuring, redundancies, mergers or acquisitions and when done incorrectly, can wreak havoc for your company. Regardless of whether you have an impending set of layoffs or are looking to develop a contingency plan, you need to consider engaging outplacement experts.
Why would you invest in your future ex-employees?
Here are the top three reasons why:
Danger #1: Possible Lawsuits
Layoffs can be an emotional time for both the company and the individual who is being let go. At times of uncertainty, the company opens itself to the risk of lawsuits. Regardless of whether or not the former employee wins, lawsuits are costly, often far more than what outplacement fees would be.
Danger #2: Damaging Your Employer Reputation
With the increased influence of social media sites such as Glassdoor, your reputation is an important currency in the current labor market. The stronger your reputation is, the better talent you can attract, and presumably, the more profitable your business will be.
Danger #3: Loss of Productivity from Current Employees
During a major restructuring, employees may feel stressed, wondering if their positions are in jeopardy. Morale is likely to decrease during company layoffs, though this can be partially mitigated with the addition of outplacement support benefits. Employers who offer outplacement services to their displaced works have been shown to increase retention and productivity from the remaining work force.
What’s your next step?
Let RAI be your partner in transitioning your impacted employees into new roles. Our services are heavily rooted in a practical approach to securing new employment. Contact us to discuss how we can help. We offer customizable and flexible services on a one-to-one basis or in a group setting. Partner with RAI to boost morale and keep your brand intact during times of change.
RAI Resources services in the greater Philadelphia and Pittsburgh areas in PA as well as central NJ. Call us now for your complimentary consultation.