Layoffs actually cost companies more than they save.
Last week, during her interview on Public Radio International’s The Takeaway, Cali highlighted that managers think firing someone who makes $50,000 a year saves $50,00a year, but the research shows it’s costing them between $75,000 and $125,000. Cali advises companies instead to use flexibility, such as reduced schedules/salaries, adding unpaid vacation days, furloughs/sabbaticals, etc., as a better approach to reducing labor expenses because it preserves the profit-generating productivity and engagement critical for recovery.
Unfortunately many companies are turning to layoffs to save costs at this time. If you or someone you know has been let go from a job recently, there are steps you can take to recover. Join me tomorrow (Thurs, March 19th at 8pm EST) for a one hour webinar on Leveraging Change to Move Your Career Forward. Click here to learn more and email me at firstname.lastname@example.org to sign up.
It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change. ~Author unknown