The process of downsizing is never a smooth one – it’s a corporate reality that affects a significant portion of the workforce. And for the employees it is an excruciating process marked with confusion and ambiguity. Companies often end up facing redundancies due to changes in business cycles, fluctuating external economic forces, disruptions in markets and mergers and acquisition. Such situations end up creating a business need within companies to lay off employees. Though not in entirety, companies do have the options to create processes and frameworks to mitigate redundancy related risks. Proactive decisions for workforce sizing, skill building and rationalizing cost structures would help companies to reduce the chances of facing redundancies in the coming future. Understanding and anticipating future changes to business can also enable leaders to tailor the right workforce size by taking into account the future risks. And in cases where businesses have alr...
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