Alternatives to Job Layoffs

In our previous article, we have talked about why job cuts are not recommended as a first reaction to companies suffering from financial loss.  We have discussed how layoffs would ultimately cost companies more money, affect their performance, and even reduce the morale and quality of their workforce.

If you are considering laying off some of your employees in favor of supposed saving you think your company would incur, take a look at some suggestions from money experts about how to organize your company during these trying times without having to reduce your number of employees.

Restructure your whole company

When companies claim that they are reducing their workforce as part of "streamlining" or "restructuring" process, they only refer to the people who will be forced out of the organization.  Companies should also consider that there are other aspects in their business that need to be restructured as well.  For instance, they may need to close obsolete plants or branches, overhaul the administration, sell non-core operations, or even improve internal processes.

Fix the problem with quality in mind

Manage the issue of financial loss not just by cutting jobs in order to impress the investors.  Find the problem and fix it in order to make the company better.  Knee-jerk layoffs only damage the prime reason why the company is successful, its employees.

Cut from the head down

If a function is not contributing to your company’s success, get rid of it.  However, instead of starting at the roots (your employees), you need to start chopping off the excess branches such as incompetent administrators, under-performing managers, down to your rank and file employees who are no longer valuable to the company.  Your company also needs to make sure that the remaining employees are clearly informed about the selection process used to cut non-performing units.

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