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One company's layoff can be another company's goldmine

Tue, 02/23/2016 - 09:21

"About 1,000 Devon Energy employees will lose their jobs in the next few days"

- Sarah Terry-Cobo
 Journal Record
 

Layoffs are done for business not employee performance reasons.


How can you take advantage of this opportunity?

People Profits Principle #6

Good people always have a job - what they want is an opportunity

The EXCEPTION TO THIS RULE is a business oriented layoff:    

  1. Employee performance is NOT THE TOP CRITERIA for a layoff
  2. Asset sale layoffs WILL AFFECT ALL EMPLOYEES in that unit
    1. Regardless of PERFORMANCE OR JOB DUTY
  3. Severance packages will VARY WIDELY between companies
  4. Better employees will be VERY SELECTIVE with a new employer

So what does this mean for you?

Lots of opportunities!! 

  1. Lots of GOOD EMPLOYEES are looking for jobs!!
  2. They will be open to CHANGING INDUSTRIES AND CAREER PATHS
  3. There will be some REAL GEMS AVAILABLE
  4. Companies with a POSITIVE SITUATION will be VERY ATTRACTIVE

So how can you take advantage of this opportunity?


Develop a STRATEGY and PLAN:   

  1. What would make YOUR COMPANY ATTRACTIVE to these workers?
  2. What jobs would IN ANY WAY MATCH your open jobs?
  3. What open jobs do you have that would mean LITTLE TRAINING? 
  4. Are there any INDIVIDUALS who would FIT your company?
    1. Who you or YOUR EMPLOYEES KNOW. 
  5. Could you use any of the jobs to open a NEW BUSINESS OFFERING?

Start with an open mind and think outside the box.

People Profits case study: Over the years People Profits has taken advantage of numerous opportunities when companies were laying off or were in a downward trajectory. We were constantly looking at what we had to do to be attractive to those potential candidates. How could we take them from where they were and fit them into our organization. We staffed a new service line from workers who were not happy with their employer.

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