Retrench Responsibly
The smell of another depression is thick in the air...
Oil prices are affecting Gulf Nations...No major wars (except for conflict in Syria)...China still limping...BREXIT is yet to show its true colors...Big ones are in a virtual race for more work...Small ones are shutting down at a faster pace than expected...Sikka wants to assure the market that everything is ok...and there is Trump.
I have been around long enough to see 2 depressions, one in 2000/2001 and the other in 2008. Before you realize, you will see mass retrenchments. The fact is neither the employer nor the employees want to be there.
Unlike in the west, we don't have any Unemployment benefits. You don't get a lot when you get fired in these situations, at the max 2 months Salary. You should be lucky if you even get that.
To all the employers, I understand that there is nothing much you do except for trying to minimize the impact. But, please be transparent. Please be open about your financial situation & future work. I understand that you cannot reveal everything upfront but let the employees know when they need to know. Please handle with care.
Software Engineer
7y'please be open about your financial situation and future work' : really important!!
Manager -International Tours (Customized Tours, CGIT)
7yYes,Most important is to be transparent while handing over the paper .Some companies blame it on the employees performance not being at par with expectations for the decision. Here the company and HR has to be responsible thinking/recollecting that these valuable human resources has been toiling hard by selflessly prioritising the company's interest beyond all personal preferences.These days even the employee is mature enough to understand the challenges the economy/industry has so just being transparent and reassuring him with his abilities and skill would leave the employee to leave the desk he loved with a sense of pride and determination to do better in future.As said in the post let the employees know what they need to know.
flydubai
7yWhat would be appreciated by them, if you connect a few headhunter and refer the candidates with experience for other opportunities outside company. There moral and respect for you would be immense and invaluable, its a suggestion and a tall order.
General Manager at Laurus MICE Management (LaurusTravel Solutions)
7yThe part I "dread" on job when I need to tell people they have to go as I understand their frustration, anger, their helplessness etc One can show empathy, sympathy, reasoning, logic and even remind them "when one door closes 10 others open" but leaves a terrible feeling inside you.