As the list of companies announcing layoffs continues to grow, I feel it’s sensible to point out that layoffs are tough business decisions with very high stakes. But how do we go from a market of rapid hiring to mass layoffs? And what can we do about it? Buzzword alert…it comes down to being intentional with your workforce planning. Hiring should be just as much a calculated business decision as layoffs.
At Leath HR Group there is no such thing as “business as usual”. The days of automatically backfilling a vacancy with a replica persona should be over. Instead, we recommend our clients take these opportunities to perform an organizational assessment. Organizational assessments are a chance to audit [and evolve] your current structure, team members, open positions, budgets, strategic growth plans. These studies dive into current labor market fluctuations and compensation benchmarking to ensure your company is appropriately positioned to attract and retain the top talent. While we recommend detailed assessments be done proactively on an annual basis, abbreviated assessments should be developed and executed every time a vacancy emerges. Avoid Layoffs
Here are a few basic questions to ask:
- Are all roles providing top-of-skill value to the company?
- Are there any roles that have evolved?
- Are the people in the right roles?
- Are there opportunities to restructure?
Hiring an employee is making a major commitment to them and their family, laying employees off can have negative impacts on company culture, productivity, and is detrimental to the affected worker and their family. At Leath HR Group we know that salaries are a primary operating expense and your people are your most valuable asset, so we approach the hiring process with a business mindset first to ensure the company is ready for the investment.
Instead of spending hours trying to figure out where to start – give us a call, we can help customize talent strategies that work for your business, by the best in the business.
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This is feature in Great Wilmington Business Journal Wilmington Biz Insights.