Resource Whiplash: From Ferocious "Battle for Talent" to Hasty Job cuts
Got whiplash? We went from a ferocious “battle for talent” to talk of widespread job cuts in the span of just a few weeks. A recent CEO survey found that 80% of leaders are or will consider downsizing their employee base in the next 6 months. But before we resort to hasty layoffs, we should heed the lesson of the pandemic, namely that the days of firing and re-hiring at will are gone.
The US workforce has shrunk, and employee expectations have changed dramatically. Employee reductions today may result in unfillable job openings down the road. So rather than hasty cuts, we are helping clients to redesign their factories and back offices to more effectively match labor to demand and redeploy resources as needed. Here’s an example of how we helped a client reduce labor costs and improve employee morale by reducing costly overtime: https://kormacgroup.com/case-study/automotive-components-oee/