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."
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Tags: economy, economic crisis, hr, layoffs
Categories: The Economy