5/30/2023: Jacob Binke, Managing Partner of The Birmingham Group, Featured in HR Daily Advisor, Layoffs Lead to Lingering Concerns for Those Still on the Job
Layoffs are a key tool in the corporate cost-cutting toolkit. While popular culture may demonize staff-cutting executives as corporate boogiemen laughing with joy as they hand out pink slips (Elon Musk comes to mind), the truth is nobody enjoys layoffs.
Business leaders are people too, and they understand the pain cutting jobs causes, especially cutting thousands of jobs at once. Aside from the human element, layoffs aren’t necessarily great for business, aside from anticipated cost savings.
“Let employees know that layoffs are based off performance and that top performers will not be laid off,” suggests Jacob Binke of The Birmingham Group/SRA. “It’s important to follow up with top performers to have a one-on-one so they can know that there are plans in place to ensure that workloads won’t be overwhelming due to additional support from upper management. A good idea would be implementing more benefits concerning mental health like summer Fridays, hybrid work, mandatory day-off every month, etc., to show remaining employees that the company is investing more into its employees than beforehand,” Binke suggests.