Downsizing in America: Employee Empowerment And Engagement

Downsizing in America: Employee Empowerment And Engagement
When a company is downsizing, the employee morale is usually hurt with the employees sent packing having psychological and financial torture. Those who remain at the job place suffer insecurity and so their morale may be hurt and hence they may reduce their productivity levels (Deems & Deems, 2007). Such a situation may not work to the benefit of the company as the best employees left at the company may feel insecure and start searching for secure places causing a brain drain (Baumol, Blinder, & Wolff, 2003).

I would start by employing new technologies that are cost cutting such as using designs for manufacturability products.  I would then modify compensation and benefits Scheme.  This would involve reducing compensation costs on the in job activities, Eliminating overtime payments and reducing the working hours. Secondly I would consider Cutting on salaries as opposed to laying off employees. I would eliminate free lunches and related benefits like burial benevolent funds incentives.
I would then undertake Talent management strategies. This would involve Offering workforce transition lessons and help the laid employees start their own ventures by offering early retirement alternatives where they leave job on voluntary basis. I would then Freeze hiring of new employees to ensure that I do not overburden the salary expenses. Then I would let the temporary employees go as a cost cutting measure and for the gaps that they leave I would instate job sharing to ensure that the permanent employees take those positions too.
I would then start Moving employees in regions where the company is faring well to ensure I don’t lay anybody off. In the extreme event I would then lay them off in a batch. I would then initiate an Employee assistance plan for counseling the dismissed and those remaining. During layoffs I would share information generously without hiding facts to motivate the retained staff and assure them of the sacrifice from upper ranks.
References
Baumol, W. J., Blinder, A. S., & Wolff, E. N. (2003). Downsizing in America: reality, causes and consequence. New York: Russel, Sage.
Burke, R. J. (2000). The Organiztion In Crisis: downsizing, restructuring, and privatization. Oxford, UK: Malden, Mass.
Deems, R., & Deems, T. A. (2007). The managers pocket Guide to downsizing with confidence. Amherst Mass: HRD press.
Garber, P. R. (2008). Downsizing. Amherst, Mass: HRD press.