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Hello!
Layoffs are never easy, so it is important to be thoughtful about the way they are handled. Poorly executed layoffs can have an effect on remaining employees, such as decreased commitment and productivity; a coordinated and well-thought-out process can create a different experience in the most of difficult of times. This month's feature article focuses on the importance of a respectful off-boarding process and strategy. Keep reading to see how to sustain productivity, reduce recruiting costs, increase customer loyalty and more.
This month is also a good time to highlight how career transition programs make a substantial difference beyond simply assisting candidates with their resumes. Our blog of the month breaks down the terms "career" and "transition" to further explain the importance of this service.
Here at Torchiana, we know successful organizations are created through strong teams comprised of the right individuals. As always, our goal is to help you and your company grow through all facets of leadership development, executive coaching, career management and career transition/outplacement services. Please contact us if you'd like to discuss how Torchiana can assist with your career management needs.
All the Best,
Kristi Rocha & Lynne Saiz
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ROI of Well-Handled Layoffs
Layoffs can be perceived as breaking the psychological contract between an organization and its employees, resulting in decreased trust and greater stress in the workplace. The negative effects - decreased commitment and productivity - are costly for employers. Not only are top-performing, non-impacted employees more likely to leave, but the employees that remain may exhibit less effort, involvement and commitment. Employers can mitigate the negative effects of downsizing by providing employee-friendly practices.
A coordinated, well-thought-out process helps both the employer and the employee in many ways and delivers a high ROI through sustained productivity during heightened uncertainty, increased retention of staff who remain, reduced recruiting costs and increased customer loyalty.
Providing career transition support to impacted employees is not only the responsible thing to do but it makes sound business sense. The quality of the transition support affects how your separated employees, your remaining staff, your customers, and your community judge your company. A positive career transition experience pays off in a multitude of ways. Employers are increasingly reaping the benefits which include improved morale, motivation and productivity, increased retention, better support of managers, and improved reputation.
Additional benefits of outplacement not always considered include:
- Protecting company brand. Your company brand and reputation is golden. The Internet enables people to quickly get information about your organization through social networks, corporate reputation sites, blogs, etc. This information can be obtained by people considering joining your team as well as present and future customers. People will remember the character of the firm and how it handled their "people" in tough times and they'll share the story for generations of employees to come.
- Maintaining trust and respect. As workers transition from an organization their treatment is a very visible factor and will either increase or decrease trust and loyalty of remaining employees. How they were treated in the transition will also influence how the departing employee views and talks about the organization.
- Potential Decision-Maker. The employees you exit may land in a position to influence the decision to buy your products or services short-term or in the future.
- Reduced recruiting costs. Former employees may be your best source for the next top candidate by referral or direct hire. Treat them like they are a prime customer whose product or service needs have shifted, and you will reap the reward in future returns on positive talent relations. The percentage of workers over age 50 is significantly growing as the baby boomer generation ages, greatly impacting the workforce in which one in three workers is already over 50. A shortage of talent looms and will be particularly critical for some industries. Employee transitions must be handled with the same care and concern as the candidate selection and hiring process itself. Departing employees are not depleted resources but rather talent re-entering the pool of potential human capital on which the organization must draw for its ongoing success and future growth.
- Fewer unemployment claims. Fewer unemployment claims reduces the employers UE contribution rate.
- Reduced claims exposure. Employees are less likely to linger on your health plans via COBRA, reducing the claims exposure.
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Blog of the Month: How Career Transition Services Make a Difference
"Career Transition services? You just help people write resumes, don't you?" And so goes the myth about what career transition services are really about.
So what are career transition services, and do they really make a difference? It's true that career transition programs include reviewing and updating resumes! But let's take another look to see what else is included.
When we look at the name "career" + "transition," we're reminded that there are two parts to this service. Transition is actually an important, and often underestimated component. Job loss, whether based on economics, poor working relationships, merger or other restructuring is just that - a loss. Like the loss of any other important relationship we have, individuals will react differently. For some, the emotions that arise at this time - shock, denial, fear or anger - all serve to undermine confidence in moving forward. And for those who experience depression, job loss can be a compounding factor and make the challenge of moving forward seem almost insurmountable.
Read more about the importance of career transition services in this blog post. |
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Upcoming Events
HR Symposium When: Tuesday, April 26 Where: Santa Clara Convention Center
HR Strategy Forum When: Wednesday, April 27 Where: Cupertino Electric, 1132 North 7th St., San Jose, California 95112
See more events from the Northern California Human Resources Association (NCHRA) at http://www.nchra.org/events/event_list.asp. |
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About Torchiana Mastrov & Sapiro
Established in 1980, Torchiana is the Bay Area's most experienced independent career management firm. Our staff of professionals have expertise in all facets of leadership development, executive coaching, career management and career transition/outplacement services. We have established strategic alliances with select organizations to fulfill additional human capital and business needs.
We firmly believe that your people are your most valuable asset. Our offices in San Francisco, San Ramon and Santa Clara provide service to more than 300 companies and we deliver our services worldwide through Career Partners International (CPI).
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San Francisco & East Bay
Kristi Rocha | VP, Client Services
50 California Street, Suite 1500, San Francisco, CA 94111
2603 Camino Ramon, Ste. 200, San Ramon, CA 94583
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Silicon Valley & Peninsula
Lynne Saiz | VP, Client Services
5201 Great America PKWY, Suite 320, Santa Clara, CA 95054
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