As the unemployment rate catapulted upwards to nearly 10 percent over the past year, the importance of severance polices was prevalent at companies across the country. The 2009 BenchmarkPro results showed that 55.2 percent of companies surveyed currently have a severance policy in place.

Companies in the manufacturing industry report having severance policies at a rate of 66 percent, compared to the insurance industry, 61.9 percent. Healthcare offers severance at a rate of 53.6 percent, while utility companies offer it at 45.4 percent. Severance is offered least to employees at not-for-profits, 41.6 percent.

Read the full release.

Tags: new economy, unemployment, severance, layoffs

Categories: Research | The Economy

A recent article in the Jamaica Gleaner is yet another look at how the impact of the economy on the workplace knows no borders:

"The number of people who are losing their jobs in these trying economic times is extremely troubling. Many of my patients are temporarily surviving on their redundancy package or with the help of others. In some family units, both income-earning parents were laid off.

"There are direct and indirect economic repercussions to all of this. The sudden loss of income is devastating to individuals and families and the job losses also affect the wider economy because of the resultant downturn in business activities everywhere. There are also direct and indirect psychological repercussions to job losses that will endure even when the economy eventually rebounds."

(Read the entire article.)

Tags: economy, economic crisis, jamaica, layoffs

Categories: The Economy

New York, NY (Vocus/PRWEB ) March 25, 2009 -- According to a recent survey of 233 HR professionals commissioned by SelectMinds*, 48 percent anticipate additional layoffs over the next 6-12 months. With companies facing continued staff reductions, now is the time to determine what measures can be taken to remain connected with former employees, particularly top talent.

According to SelectMinds, parting ways with workers is no longer viewed as something that comes to an abrupt end, but rather an opportunity to nurture a life-long relationship. One-time colleagues with deep knowledge of an organization, become a valuable talent source for future hiring opportunities.

When the economy turns, companies will need to rehire talent. To ensure hiring costs are not in the millions, like the separation costs being paid today, businesses must find ways to leverage their existing base of past employees immediately. For less than 1 percent of what is being paid now to reduce a workforce, an alumni social network for departed employees can be up and running in a few short weeks, laying the foundation for future hiring needs.

"Alumni networks are an affordable and proven strategy for maintaining relationships crucial to longevity and growth," said Anne Berkowitch, CEO, SelectMinds. "While the news of further workforce reductions is concerning, businesses must view former workers as assets, remembering these connections pave the way to extremely cost effective re-recruiting, new business and partnership opportunities."

(Read the entire article.)

Tags: economy, economic crisis, hr, layoffs

Categories: The Economy

From Applied Performance Solutions, March 20, 2009

Contact: Grant Howard

415-945-9812

fastresearch@prodigy.net

www.appliedperformancesolutions.com

Layoff Survivors and Productivity

A recent survey of workers who have survived corporate layoffs in the past six months finds that 74% feel their productivity has declined. In addition, 64% feel the same about their co-workers. The bottom line: They believe the quality of their company's products or service has suffered because of layoffs.

Diane Valenti, an expert in performance consulting, helps companies maximize their investment in human capital. "There is a whole segment of the population that I call layoff survivors," she says. A simple process can help improve productivity:

1. Ensure the mission of each job is aligned with the company strategy.

2. Identify tasks that are essential and those that can be eliminated.

3. Confirm or develop specific, measurable quality standards.

4. Identify barriers to performance.

5. Improve morale by acknowledging the difficulties of layoff survivors.

Bio:

Diane Valenti has more than 20 years of experience as a performance consultant. She is president of Applied Performance Solutions, Inc., and her clients have included Genentech, Nike, and Starbucks Coffee Company. Diane is the author of “Training Budgets Step-by-Step.” She appeared in articles in Training Magazine, TD&J and Learning Circuits. In addition, she wrote a professional booklet for the American Society of Training & Development (ASTD).

 

Tags: economy, economic crisis, productivity, layoffs

Categories: The Economy

Jaffrey, NH (PRWEB) March 16, 2009 -- Poor leadership is having a profound effect on the nation's businesses which are caught in the market meltdown. Employees laid off feel badly, but those who remain sometimes feel even worse. Managers need to step up and manage the change in order for their organizations to survive and succeed during the deepening recession.

"Managers are gripped with a real sense of fear right now," says David Jackson, COO of the Levinson Institute. "their inaction, indecision and insecurities are leading to a meltdown in leadership, leaving organizations floundering. Managers aren't expected to have all the answers, but they are expected to help their staff adapt to changing conditions."

From years of experience in helping organizations deal with change, restructuring and layoffs, Jackson suggests managers:
1. Communicate. Provide information so that people will understand that the change was unavoidable.
2. Explain. Provide clarification about the implications of the change in order to encourage and again engender trust.
3. Walk the talk. Personally demonstrate new behaviors and commitment following the change.
4. Get buy-in. Actively seek input and advice. People will genuinely commit and support the change when they are given opportunities to participate.
5. Set limits. Allow time to grieve over the change, but encourage appropriate behavior and mutual respect.

(Read the entire release on PRWeb.)

Tags: economy, economic crisis, jobs, layoffs

Categories: The Economy