Long term effects of redundancy
3rd November 2008
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The stress and anxiety people go through when facing redundancy can have long-term psychological and health implications. In the UK, employees are protected by the law and are compensated for financially. But few employers offer enough support to help their staff to adjust to an uncertain future.
In September 2008 the world awoke to the horrific news that a mob of workers in Delhi India bludgeoned to death the chief executive who sacked them from a factory. The CEO died of severe head wounds after being attacked by scores of laid-off employees. Apparently the incident followed a long-running dispute between the factory's management and workers demanding better pay and permanent contracts. I shook my head in disbelief that divisions between employees and their employers could result in such a tragedy.
So how far should an employer go to soften the blow? Is a financial settlement enough? What about the psychological bond between employer and employee? In my view this economic slowdown is going to be very different to previous ones from a talent management perspective. It is expensive to employ and develop talent and staff engagement and loyalty cannot be bought. Employers face a difficult decision about who to keep and who to let go. And if they want to hang on to their top performers they need to treat the leavers with respect and offer them practical support with their next career move.
Individual or group career coaching sessions help employees to review and analyse their careers in order to make informed decisions about their next move. Help with marketing their skills, preparing for interviews and landing the next job will leave them and those staying behind with a favourable impression of you as an employer.
Small gestures speak volumes and are not costly - unless you don't make them.
For more information on career and confidence coaching, call Katherine Wiid at Recrion on +44 1780 484910 or visit www.recrion.co.uk/redundancy

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