Many business leaders are facing the need to reduce costs in order to remain competative and to even survive. For many, as a last option this includes redundancy and letting go of staff.
However there is a need to avoid throwing the baby out with the bath water! Aside to the lost of talent and key skills the costs associated with the process can often get forgotten.
Our free paper on the Cost of Employee Turnover includes a useful calculator to understand and to work out the true costs of losing and recruiting staff.
To access the document click on this link FREE download Cost of Employee Turnover
There is also a very useful Statutory Redundancy Calculator online that can be used at this link Redundancy Calculator
There is also the need to consider the emotional support for staff as they face such issues and look to make the transition.
Lee Martin, MD of Toojays comments "We're increasingly seeing the need to maintain staff moral and performance when organisational restructuring takes place and job losses are apparent. We've been involved with Change Management programmes and Outplacement Service support for many organisations."
The Outplacement Support looks to help indiviudals assess their situation, skills and career and specifically guide and assist with CV writing, job seeking, interview skills and self promotion.
Employers are recognising the benefit of providing these services as it helps to keep the workforce engaged and motivated during difficult times.