锘? Do you feel like you are caught in a roller coaster ride that鈥檚 out of control? Every day we hear the grim news. Governments around the world are doing things to shore up their key financial institutions like nothing we have ever seen. Companies are announcing large layoffs.
How does all of this upheaval affect you and your business?
If you are like a lot of employers I talk with Luka Modric Jersey
, then you may be ready to pull the downsizing trigger to keep your costs in line with your actual or estimated revenue over the next year or two.
That鈥檚 good stewardship of your business if you want to be around when the business climate is back to 鈥榥ormal鈥? There鈥檚 little reason to carry a negative cash flow, especially when you aren鈥檛 even sure if you can rely on your normal sources of funds.
OK, so you know you need to go through a restructuring process if you are to survive.
The question I have is--do you have a good plan for figuring out who to layoff and who to keep?
Are you just telling each department head to cut back staff by, say, 10% across the board? Or, are you going by seniority or some other seemingly 鈥榦bjective鈥?selection process?
Well, here are some action items to consider before you take action:
? Have you thought about what your business may look like when the turnaround occurs?
? Will your customers be buying the same way they always have or will you need to sell differently to them?
? Will your products and services be what they are today?
? What talent will you absolutely need? Is it the same talent you have had over the last several years, or will your needs change?
? How do you intelligently select who to keep and who to let go? Are you setting yourself up for legal problems around discrimination because you let you more expensive folks go?
You need to give these and other questions serious thought before taking action.
I advise my clients to brainstorm with their senior management team around just how the business climate may look like when we start to climb out of this morass. As part of this important exercise Lucas Vazquez Jersey
, think about how you can outmaneuver your competition.
Now let鈥檚 get down the people level鈥攚ho to retain and who to lay off.
After going through the crystal-ball exercise, it鈥檚 now time to look at your employees and figure out which one鈥檚 best suit the profile of what you not only need today, but absolutely will need tomorrow. It鈥檚 highly likely you pretty much have many of the right people on board today. If not, you need to turn out those who don鈥檛 fit and find people who do fit.
If you wait until things turn around before figuring this out, you are likely to find it hard to find and attract people who fit.
You may think I am a[just talking about the type of skills you will need among your employees. Well, to some degree that鈥檚 true鈥ut...
鈥kills can be taught
No, I am talking more about the type of people you will need based on their behavioral characteristics and their ability to learn and communicate effectively.
The profile you build should include things like...
? whether or not you will be a 鈥榣ean and mean鈥?organization.
? will you need people who are self-starters or people who require oversight?
? will your sales team primarily be out looking for new clients or managing existing ones?
? If you need to teach new information and new skills, how fast do you need to bring employees up to speed on them?
The key to this whole thing is the Profile.
In reality Kiko Casilla Jersey
, the profile is really several profiles, because each position may need a different set of behavioral and learning characteristics.
One way to attack this is to determine which employees currently in a given position have what you think it will take when things turn around and use them as the model profile for that position. Use an objective assessment tool like eSessments Profile XT to construct such a profile. The output tells you just what type of person you need to have in each position.
The output also tells you just how to work with each employee so they reach their full potential. Employees who believe their employer cares about their growth will want to stay around for the long term...turnover can kill your plans for the turnaround.
Now look at each employee to determine how well they fit the profile. If you think they are a good fit, you need to focus on retaining them now. Make sure they know you want them around for the long term. If they feel nervous about whether or not they will be let go, they may proactively start looking for a safe harbor.
If they are not the best fit for their current position, consider other positions where they would be a good fit even if it means you need to give them additional training. That鈥檚 better than having to go out and find someone who is a good fit when you need them, because you might not find them or be able to hire them.
If you go through this process and follow it for everyone you lay off, you can show that your process was objective and fair to all of your employees. While I am not offering legal advice here, it is important that you are able to show objectivity in case a laid off employee decides to claim discrimination.
I hope this gives you some actionable food for thought.
I urge you to keep the employees who will not only best serve you best now Keylor Navas Jersey
, but who will be the right ones when the economy regains its footing.
Author's Resource Box
Michael Beek, the president and founder of eSessments is a leading expert at enabling employers to hire, develop, and retain the right employee for the rightBrewers Likely To Avoid Free Agent Pitching Market - RealGM W.