Laying Off Talent
As more organizations become conservative with spending, layoffs are necessary to help them preserve their future. The manner in which organizations lay off people, however, can affect their current and potential talent pool. There are substantial investments made to the recruitment and development of talent. Despite the substantial investment, when it comes to corporate cut backs, laying off employees is normally high on the list. Organizations have to be careful because laying off the wrong employee might negatively impact the organization’s future.
Respond by Day 5 to two or more of your colleagues’ postings in one or more of the following ways:
- Ask a probing question.
- Share an insight from having read your colleagues’ postings.
- Offer and support an opinion.
- Validate an idea with your own experience.
- Make a suggestion.
- Expand on your colleagues’ postings.
- APA Format
Classmate 1: (Clarke)
“Laying Off Employees
Layoff methods are used to cut costs, but they sometimes cause damage within the outside and inside of an organization. In many circumstances laying off employees ends up weakening a company and leaves it vulnerable to its competitors while also holding back its’ ability to become head of the industry in the future. To face these realities effectively, many companies recognize that it is essential to have the right organizational capabilities and the right talent, with the right competencies, in the right job, at the right time (Silzer & Dowell, 2010).
The pattern of layoffs result in consistent frequent characterization as if it has become a free agent mentality within the workplace. This only leaves the establishment mediocre employees that possess low levels of commitment and loyalty to an employer.
Best Measures Of Talent
A few ways that organizations can best measure their talent to ensure success is to Identify the essential skills the company will need for the immediate future while also identifying the individuals that are either hard to replace or that would adversely impact the company if they left and began working for a direct competitor.
Impact Of A Layoff
The impact that a layoff could cause for the Model for Building Functional Expertise would definitely be for the growth of a company. First, many companies need more in-depth functional expertise as positions evolve into more complex, knowledge based jobs. The critical knowledge, skills, and experiences needed for these positions are often specific to how work is conducted within a particular company. This critical knowledge is frequently unique and creates competitive advantage (Silzer & Dowell, 2010).”
Classmate 2: (Alicia)
“While layoffs may seem like a good way to cut costs in the short-term, the direct and indirect costs of downsizing can paralyze your company’s long-term revenue-generating streams (Bergfeld, 2008). Employees start to become concerned and look for other employment when layoffs happen for the fear of losing their job. Layoffs bring down morale, worry employees and customers, and cause panic within the office. The direct costs of layoffs from outplacement services and severance pay can add up initially, but indirect costs — like losing experienced sales and marketing employees who have strong relationships with clients — can cause lasting damage to a business, (Bergfeld, 2008).
To face these realities effectively, many companies recognize that it is essential to have the right organizational capabilities and the right talent, with the right competencies, in the right job, at the right time, (Silzer & Dowell, 2010, pg. 463). Organizations want to make sure they are bringing in employees that are going to help build the business. Management must look at the factors surrounding losing qualified employees. Employees build relationships with each other and influence each other in times of happiness and despair.
Organizations must come up with a strategy of who they need to lay off. The rule “last one in first one out”, is not always a logical decision. You many have employees who have been with the organization for years but are not the best performers. Organizations want to retain the best performers, these are the employees that build revenue. The pain of layoffs is probably unavoidable. But if the company uses this episode to address its long-standing talent challenges and to solidify its strategic direction, people will know that the company took the most viable path for the long run, and that they did not suffer this pain for a capricious or self-defeating outcome, (Aguirre, Post, & Finn, 2009).
Managers often want to use within a short period of time a functional competency model that was created for individual development to select new employees or make promotion decisions, (Silzer & Dowell, 2010, pg. 482). This model is strategies put in place to assist with choices on determining talent. During a calibration meeting, managers identify and agree on a person who demonstrates the “gold standard” of performance for each competency, using specific behavioral examples to justify the choice. They agree on this standard and apply it subsequently to each person discussed, (Silzer & Dowell, 2010, pg. 488). ”