Global inflation has initiated and accelerated layoffs in the job market. However, although widespread, they still do not always reflect well on a company's employment reputation and shows of its credit poorly in the market. Bad layoff decisions can prove to be devastating for a company's stature in the market.
To avert a downsize, the best strategy is to encourage employees, particularly on the layoff list to deliver high and increased performance. Such employees are still considered an asset of organization; through open and honest with those employees, it is often possible to avoid staff reductions. High quality termination practices are vital to the long term success of an employer and they should be a part of standard HR policies and procedures. Additionally, hiring managers and staff level management should be aware of layoff and termination laws and best practices.
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