5 Ways in which Coaching can help your organization go through Layoffs
Going through a layoff is a challenging experience, even if it’s somewhat expected due to a recent business or industry downturn. The transition phase can be stressful, but it’s important to remember that the end of one’s job doesn’t have to mean the end of one’s career. With the right guidance, career coach, and tools, many affected employees find new positions with equal or greater pay.
While family and friends can offer comfort and support during tough times, they may not have the professional coaching culture to guide candidates in their job search. At this critical stage in a candidate’s career, certified career coaching is one of the best sources of sound career guidance and advice. Companies going through an employee layoff should also invest in an internal coaching platform. It can help them in managing their organizations better. Organizational coaching is typically a platform with a background in HR, recruiting, or career coaching. They are accredited by a Coaching Federation or another certifying body and trained to lead candidates through a proven methodology to help them meet their goals.
The pandemic and subsequent recession have made it difficult for businesses to survive, and the economic situation, coupled with rising global inflation, demands increased vigilance from business leaders. Though unpleasant, leaders must consider exit strategies to ensure their companies stay afloat. An exit plan is essential in the event of necessary layoffs. Sometimes, layoffs can happen suddenly, and there may not be enough time to adequately prepare an exit plan for affected workers. Mistakes during job cuts can result in public relations crises, legal disputes, and even potential fines.
According to a study by Randstad RiseSmart, 54 per cent of companies do not have plans to support employees during layoffs, despite economic downturns often forcing them to downsize. A good workforce management plan includes everything from onboarding to existing team members, with some exit programs providing team coaching, support services, and employee assistance programs. Investing in internal coaching practices is worthwhile as it can help protect a company’s reputation.
Business coaching is typically experienced in dealing with performance improvement, career transition, and career challenges that employees face at some point in their careers. They can also be carefully matched with companies based on industry knowledge and experience, regardless of geography. Engaging with a specialized career coaching platform improves the company’s chances of overcoming business hurdles.
Have you ever met an entrepreneur who was caught amid a layoff cycle? It’s tiring, neck aching and a challenging situation. Unfortunately, the events surrounding a layoff are all too common, and it’s rare to see leaders who know how to support their employees through such a difficult time effectively and even turn it to their advantage. Companies are often compelled to lay off employees in today’s economy, sometimes in waves. When some employees are spared, they may feel relieved initially, but then they begin to worry and wonder about the next wave. “Will I be next?” “Should I start looking for a job elsewhere?” “What will I do?” These thoughts are symptoms of survivor syndrome. The effects of this syndrome can lead to a significant drop in employee engagement and productivity. Recent research has indicated that employees often report reduced commitment and performance after layoffs.
If you’re a leader experiencing the same, you’re probably wondering what you can do to help your team navigate the dreaded layoff cycle. Here, we shall discuss five ways leadership coaching can help your organization go through layoffs.
Layoffs can be a painful experience for affected employees and managers who must deliver the news. To make matters worse, the average duration of unemployment for job seekers is surprisingly long, with economists considering those jobless for more than six months as long-term unemployed. As of July 2021, the average length of unemployment was close to seven months. Despite the uncertainties brought by new unemployment policies and changes in the labor market, job openings are available. The US Bureau of Labor Statistics data released in August 2021 reveals that in June 2021, there were 6.7 million new hires and 10.1 million job openings at the end of the month.
Growing a business can be challenging, especially during layoffs, and making costly mistakes along the way is not uncommon. Hiring a Team coaching service can provide a shortcut to success and offer tailored advice based on your industry. Competent leadership coaching will concentrate on your strengths, refine your skills, provide constructive feedback, and lead your company toward financial success.https://uexcelerate.com/five-ways-in-which-coaching-can-help-your-organization-go-through-layoffs/