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What Companies Still Get Wrong About Layoffs [1]

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Date: 2022-12-08 13:05:06+00:00

Summary.

Research has long shown that layoffs have a detrimental effect on individuals and on corporate performance. The short-term cost savings provided by a layoff are often overshadowed by bad publicity, loss of knowledge, weakened engagement, higher voluntary turnover, and lower innovation — all of which hurt profits in the long run. To make intelligent and humane staffing decisions in the current economic turmoil, leaders must understand what’s different about today’s larger social landscape. The authors also share strategies for a smarter approach to workforce change.

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[1] Url: https://hbr.org/2022/12/what-companies-still-get-wrong-about-layoffs

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