Smart employers are directing their branding strategies inwards to engage workers who survive staff culls and to maintain positive relationships with the talent they're forced to let go, says MD of The Face, Adam Shay.
Panicky managers that put bottom-line efficiencies before people during the economic downturn run the risk of obliterating company morale and losing their best talent, says Robert Half Asia-Pacific's managing director, David Jones.
In difficult economic times employers must ensure they balance shareholder concerns about executive pay with the need to attract and retain talent, says Yolande Foord, executive remuneration leader at Mercer Australia.
Maintaining a good relationship with departing employees not only ensures a supply of part-time and temporary labour, but also drives business and employee referrals, says global expert on alumni programs, Professor Ian Williamson.
Employers that enforce hiring freezes during a downturn run the risk of anarchic recruitment systems and their costs spiralling out of control, says HR expert Steven Dahl.
Employers that gather and accurately interpret workforce data before resorting to massive job cuts can avert unnecessary workplace upheaval and save big bucks in future recruitment costs, according to Qantas workforce analytics manager, Nathan Carbone.
Employers that stop investing in succession planning and management risk losing the benefit of their efforts over the next five - critical - years, according to a white paper by PageUp People.
Any company that attempts short-term "stopgap" measures to reduce labour costs only to be forced to make large-scale public layoffs later "has to be classified as a workforce planning failure", says HR expert Dr John Sullivan.
The challenges employers face in managing underperformance continue to intensify, in light of flexible work arrangements, psychosocial obligations, and more. Minimise your legal risks and maximise your outcomes by attending this HR Daily Premium webinar.
