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And when you're laying off staff from a reasonably large company because its bankrupt, would you consider the expense of extending health care coverage, keeping
by Unseelie 16y ago
And when you're laying off staff from a reasonably large company because its bankrupt, would you consider the expense of extending health care coverage, keeping them on as contractors or part time, supporting their future job search, or otherwise extending your finances to support the people you're getting rid of because you cannot afford them?
In the context of the company and the article, your list looks less like a nice thing to do, and more like a way to ruin the company.
- tptacek 16y agoA well-executed layoff is the triple lutz of entrepreneurship, and your company may be ruined if your execution is short of flawless. You're going to cut some people, but you're also going to lose even more people. Companies will try to cut "dead wood", but the people who leave afterwards will tend to be A-players; they're the ones with the most mobility. Some of Ed's suggestions cost almost nothing; for instance, being ready with an immediate offer a strong letter of reference --- that's just planning. Other things do cost money. But if you're bracing yourself in anticipation of losing A-players after a layoff, consider whether saving that one extra headcount in HR or Marcom is worth what you can buy in risk mitigation with the FTE cash they'd free up.