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Dear Workforce How Can I Manage Retention During Downsizing

How can I manage retention during downsizing? Our business area is downsizing in order to close down in about four years. We have begun doing some layoffs this year, but much of our business will continue for several years and retention remains a serious issue. We are trying to find other jobs within the company for laid-off people and have been open about expected release dates. However, we are afraid that this will not be enough to keep all of our key people.
September 7, 2011
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Related Topics: Downsizing, Retention, Dear Workforce
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A Dear Juggler:

Consider this from the employee's point of view. They are bound to ask themselves the following questions: why should I continue working here? What's in it for me?

They will look at the compensation package, the challenge of the work, the flexibility, the fun, or the prospect of continuous employment. Then employees will ask: ‘will I have another job to go to--one that I want--right after leaving? My income must continue so I can support my family/lifestyle; what guarantees do I have? How will my workload change? How about the type of work I will do?'

Armed with this perspective, go to your employees and ask them what concerns need to be answered. Work with your people collaboratively. Ask for their ideas.

SOURCE: Roger E. Herman, CSP, CMC, FIMC, The Herman Group, Greensboro, North Carolina, author ofKeeping Good People, Jan. 27, 2003.

LEARN MORE: ReadRetention Strategies That Respond to Worker Values.

The information contained in this article is intended to provide useful information on the topic covered, but should not be construed as legal advice or a legal opinion. Also remember that state laws may differ from the federal law.

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 The information contained in this article is intended to provide useful information on the topic covered, but should not be construed as legal advice or a legal opinion. Also remember that state laws may differ from the federal law.

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