Business owner must read before laying off employees
My best leisure activity during pandemic time is to talk to my friends about their work and what is going on in their workplace. Whether their employers are taking any actions to fight against the unfavourable business situation at this moment or they simply flying in the storm. Many business owners are itching to save money laying off employees as they see a downfall shortly; especially small businesses.
My LinkedIn is full of posts where people are complaining about laying off and requesting for the new opportunities to work. Losing a job in the current uncertain situation is the worst thing that could happen to anyone. Though people have federal support to feed their families, there is no certainty that when one can get the job back. This is the melancholy experience for that person. One should never forget how the employer ditched when he needs the support most. Employees devote 35% of their daytime to keep the business alive(officially!); these employees have skipped their daughters’ birthday to attend the most important conference call at some point. They might have skipped their dinner date to work on the clients’ presentation and so on.
The sacrifice of your employees’ personal lives they have made some point shouldn’t be rewarded with lay-offs. It is a vicious business practice.
In contradictory to fair practices and fair business, let’s just think about practical dynamics. We are seeing at least a year-long recession; probably more than a year, after CORONA-evil will be dead. During the recession, businesses will need their skillful employees to stay with them, so, their potential can be used to generate advantageous outcomes and beat the competition. The only businesses that will use their employees’ skills wisely will survive; no product can save them in recession.
However, when everybody needs the best skills to survive, employees who seem a liability in this time will become a profitable asset and survival tool during a recession. Other businesses might pick up your best sales manager, product owner or project manager. And, no wonder employees will move on without thinking twice; no moral obligation to stay with a current employer because they witnessed massive layoffs(a huge selfish action).
Setting up culture at this time is the most important chore a business owner can perform and earn the loyalty of their employees; of course with their skills. Either one can save some money at this time laying off their employees and go out of business during the recession or support their employees now and experience the recession seeing their employees taking care of the business. You have to decide; a short term gain or long term profit.