layoffs

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Giving Back During Tough Economic Times, Part 1

In writing consistently about our flagging economy, the problems we’re facing and the expected duration of this situation, I’ve realized that the tone and scope of my articles have been increasingly depressing.

Don’t get me wrong. I’m not depressed, but I recognize that the tone has nonetheless been dour.

That’s why my upcoming series of articles will provide a variety of ways for you to make a positive difference during these times of hardship. It’s important that we don’t all adopt the Turtle Mentality and keep our heads in our shells. We need to be a part of our community and give back however we can, even and especially if that giving back isn’t or can’t be monetary.

My first piece of advice is about layoffs.

As a CEO, owner, or manager, you may understand all too intimately that these times have unfortunately required layoffs and company closures.

As a turnaround professional, I understand better than most that cash is tight, but if you find yourself in a position like this or advising someone who is, be especially sensitive to the personal needs of those severed. Be sensitive when you have those difficult termination meetings; be sincere, and it will show.

Consider offering options like out placement services, extended health insurance and networking meetings. Let people know – if it’s true – that when positive cash flow and profits return, their jobs will be filled again by them, if possible.

This kind of approach deepens your understanding of others’ plight and demonstrates that you have compassion for your fellow human beings.

In some cases it might be appropriate to create lesser positions within your company part time. Though this may be insulting to some and result in a lessening of benefits and pay, it will allow them to remain employed in some capacity and ensure that when the time comes, they will be easily able to restart their previous positions (this can be very challenging and quite uncomfortable for all involved as a subject but weigh the benefits and ask those to whom you might offer this to do the same).

In short, do whatever you can to soften the blow to those less fortunate when the economy requires that you downsize in ways you would prefer not to.

Please stay tuned for more posts on giving back during a touch economy. I think that this series will allow us all to generate and act on some ideas that will be to the benefit of our community and country.

Please share your ideas for giving back below.

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“I Would Like to Say That Your Jobs Are Safe”

To a lot of people out there, this is no laughing matter (though thank you for the chuckle, Working Daze). Their jobs are on the line or long gone. They’re out of work, looking for work or at least brushing up their resumes.

If you’re one of these people, it’s hard to give you concrete advice that’s going to yield employment soon. Yes, we’re hearing that the economy is improving and that unemployment is creeping down (however slowly), but in my opinion, these numbers are a bit doctored. Not in any particularly malicious way, but at the end of the day, I believe that unemployment is flat and will hold where it is for a while (if it doesn’t get worse…).

So what can you do?

As someone who has – and I’m sorry this is so – had to lay off a lot of people in his day, I know how horrible it is to see people put out of work. But for every job I have to end, five are saved along with a company that would otherwise have collapsed under the weight of divisions and personnel that it didn’t need. Not many laid-off people take solace in this knowledge, but there’s no manager, CEO, president or leader who wishes to lose good people.

Stand Up and Stand Out

If you’re in a division or business that’s getting downsized or eliminated, you need to do your best to stand out as someone who is indispensable. You may have heard in the past that if you are so good at your job that no one else could do it then you can never move up because you can’t be done without where you are. True as that may be in great times, these aren’t those, and you’re going to need to stand out as exemplary and someone without whom things will not run well.

You can do this by bringing ideas to management, both right above you, and if it’s called for, higher up the ladder. When I go into a business to restructure it, I often promote from within, seeking the best talent and those who understand the inner-workings of the business, those who have seen what works and what doesn’t and have ideas for improvement in efficiency and quality. I ask current managers for recommendations, and I leave my door open to all – often including letting people know where I’m staying so that they can come to me with greater anonymity if need be.

In a bad economy with high unemployment, don’t squander an opportunity by laying low. Put in the extra time, make yourself and your good ideas known and heard. Consider getting additional education to bolster your current perceived value. Leverage your network to create business for your business – those who bring in business are rarely let go. Even if I have to lay off someone who seems valuable because my hands are tied, I look for where else I can use him. But if I have no idea who you are or why you’re useful, I have to let you go and not worry too much about it.

Are you out of work? How are you seeking employment? Have you saved your job recently? How did you stand out to do so?