Don't Rush When Considering Layoffs: TalentQuest Report Cites Importance of Long-Term Thinking

Companies that rush to enact layoffs may be doing themselves long-term harm, says a new special report from TalentQuest, an integrated human resources consulting and software solutions firm.

The report, Layoff Advice: If You Have To Do It, Do It Right, offers guidance for managing layoffs in a way that preserves current productivity, prioritizes employee consideration and communication, focuses on financial stability, and ensures that companies have the knowledge, skills and resources needed to succeed in the long-term.

Despite todayÇs economic turmoil, the TalentQuest report cautions employers to avoid rushed decisions when it comes to layoffs, as they may not be the best money-saving course in the long term. It urges companies to clearly define what they hope to accomplish with the layoffs, and their goals for the organization.

Decisions related to reductions in workforce are all-too-often made hastily, subjectively and in a vacuum, said Dr. Rick Brandt, president of consulting services for TalentQuest. Employers focus on avoiding litigation and claims of discrimination, unfairness or wrongful termination. Although these are important, too little thought is given to what the organization will look like after the layoff and what key competencies will be required for future success.

Key topics addressed in the special report include:

- Where to begin.
- Are layoffs the only option?
- Determining which employees to terminate.
- Maintaining objectivity.
- Ensuring employees remain engaged, minimizing interruption.
- Avoiding losing people we donÇt want to lose.
- How, when and what do we tell employees?

Though necessary at times, layoffs can be extremely disruptive and more costly in the long run than they are beneficial in the near term, explained Brandt. There are ways, however, to minimize negative impact and ensure your organization is well-positioned for the future, both in terms of retaining staff that you need now and your ability to attract top talent when the crisis is over.

A complimentary copy of the report, Layoff Advice: If You Have to Do It, Do It Right, is available for download by visiting: