3 ways to manage layoffs better this year

OFFBOARDING BENEFITS: Thirty-eight percent of business leaders recently surveyed by ResumeBuilder think layoffs are likely in 2024. As a result, more than two in five U.S. employees are worried about losing their jobs, and nearly half say they have actively changed their behavior at work to avoid being laid off , according to a recent survey from The Harris Poll and Justworks .

If layoffs do need to happen, employers can provide offboarding services to streamline the process, recommends Shawna Simcik , VP of leadership development at wealth management firm Keystone Partners . "Layoffs are typically associated with negative perceptions and negative experiences, but employers can choose to invest in employees while offboarding them, and shift that negative experience into a positive one," she says.

She offers her tips and strategies for easing the transition for everyone: Invest in offboarding strategies to minimize layoff trauma

STRESS MANAGEMENT: A study from the American Psychological Association finds that being laid off? is one of the most stressful life experiences — more stressful than divorce or the death of a close friend. In 爱德曼 's 2022 Trust Barometer, 85% of respondents rated job loss as their top concern. Eighty percent of HR professionals rate the way their company handles downsizing as excellent or very good, according to 任仕达 .

"Every HR leader is talking about being more equitable in their employee experience, and how you treat people when they're leaving is just as important as how you treat people when they're coming into the organization," says Lindsay Witcher , senior vice president of Randstad RiseSmart. "It's a business imperative to offer some sort of severance and career transition benefits, because if you're a leader there's an ethical responsibility to do right by your employees."?

Here's what needs to change about your current policies: 92% of employers expect more layoffs in 2024

GETTING IT RIGHT: Torani (R. Torre & Co.) has never had a layoff in its nearly century-long history. When people are hired , they're expected to grow their careers there, says Melanie Dulbecco , Torani's CEO for over 30 years.

"When we hire people, we are not just interviewing for the skills and leadership competencies they would bring to that particular role," she says. "We are looking for people who fit with our core values, and one of those values is growth. Are they ready to develop and learn into the future with us?"

Dulbecco shares how they've made their business thrive without a single layoff: No layoffs and a 6 year long tenure rate: Torani's secret to employee retention