Sage-Tips

What are alternatives to layoffs?

5 Alternatives to Layoffs

• Cut Extra Employee Expenses. Take a close look at how much you’re currently spending on employee bonuses, raises and overtime.
• Reduce Wages or Benefits.
• Scale Back Production.
• Renegotiate Vendor and Supplier Contracts.
• Become More Efficient.

What other alternatives can employers consider to deal with the oversupply of personnel?

These include:

• Reduce your workweek. Going from a five-day workweek to a four-day workweek reduces payroll by 20 percent, Zickerman noted.
• Extend time off.
• Challenge employees to save money.
• Offer sabbaticals.
• Swap employees or lend them to another company.
• Look to your peers for help.

What are the common warning signs symptoms that may lead you to believe someone may be suffering from major depression?

Symptoms

• Feelings of sadness, tearfulness, emptiness or hopelessness.
• Angry outbursts, irritability or frustration, even over small matters.
• Loss of interest or pleasure in most or all normal activities, such as sex, hobbies or sports.
• Sleep disturbances, including insomnia or sleeping too much.

How do you handle layoffs at work?

10 Strategies for Dealing With Layoffs

1. Recognize It Will Be Painful. RIFs are upsetting and difficult to deal with for everyone.
2. Remain Objective.
3. Plan Carefully.
4. Consensus Building.
5. Treat Employees with Respect.
6. Offer as Much Support as Possible.
7. Communicate Candidly.
8. Build resilience.

What is a job freeze?

A hiring freeze is when a company halts hiring new personnel for a temporary period of time. Existing employees are often put under additional strain during hiring freezes, as they have to take on the job responsibilities of vacant positions.

What other options can be taken by the organization without taking downsizing decision?

Cost-Saving Strategies

• A Comprehensive Model. Automakers, as well as other industries in Japan, have adopted a series of steps they use as an alternative to downsizing.
• Reduced Hours.
• Lower Wages.
• Attrition.
• Alternative Placement.
• Leave of Absence.
• Employee Buy-Out.
• Shared Ownership.

How do you deal with oversupply of personnel?

No matter which methods you use for dealing with a labor surplus, consider the indirect effects.

1. Layoffs. Reducing a labor surplus via layoffs may seem obvious, but a lot depends on the cause of the surplus.
2. Outsourcing.
3. Retraining.
4. Hiring Freeze.
5. Buyouts and Retirement.
6. Pay Cuts.
7. Modified Plans.
8. Seasonal Hiring Policies.

What are the five common symptoms of depression?

5 Most common signs of depression

• Persistent depressed (low) mood. It’s natural to feel down from time to time.
• Loss of interest in things you once enjoyed. Sometimes we lose interest in things we used to love.
• Feelings of worthlessness.
• Poor concentration.
• Thoughts of harming yourself.

How do I prepare my employees for layoff?

Laying off employees: 6 ways to ease the transition

1. Establish your game plan.
2. Handle layoff conversations with care.
3. Identify employees needed for a transitional period.
4. Establish incentives for transitional staff.
5. Give flexibility to transitional staff.
6. Provide outplacement assistance and support.

How do you reduce layoffs?

Here are 10 ways to adjust your cost base if revenues have decreased and layoffs seem like the only option.

1. Discretionary Spend.
2. Alternatives With Larger Impact.
3. Government Assistance Programs.
4. Hiring Freeze.
5. Salary Freeze.
6. Salary Rollbacks.
7. Pay Cuts.
8. Job Sharing.

Why have a hiring freeze?

When a company is under financial stress or there is an economic downturn, hiring freezes are often implemented. Hiring freezes are usually accomplished by not filling open positions when individuals are either laid off or when they voluntarily leave.

What are five risk mitigation strategies with examples?

Five risk mitigation strategies with examples. 1 1. Assume and accept risk. The acceptance strategy can involve collaboration between team members to identify the possible risks of a project and 2 2. Avoidance of risk. 3 3. Controlling risk. 4 4. Transference of risk. 5 5. Watch and monitor risk.

How can the accept strategy be used to identify risks?

The accept strategy can be used to identify risks impacting cost. For example, a project team might implement the accept strategy to identify risks to the project budget and make plans to lower the risk of going over budget, so that all team members are aware of the risk and possible consequences.

What are the different ways to implement the avoidance strategy?

The following examples are other ways to implement the avoidance strategy. Mitigation of performance risks, such as insufficient resources to perform the work, inadequate design or poor team dynamics, can allow a project team to identify possible ways to avoid these types of risk situations that may cause issues with project performance.

What is the best learning approach for organizational change?

The choice of learning approach employed—management training, management development or organization development—depends, therefore, on the specific kind of change desired in the organization.