Describe the Various Ways in Which the Negative Impact of Downsizing

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The Answer is Companies can reduce negative impacts by preparing for the post-downsizing environment in advance, thus alleviating some employee stress and strengthening support for the new strategic direction. Some of the ways in which the negative impact of downsizing can be minimized are:
a) Investment: Companies that downsize to focus on core competencies are more effective when they invest in high-involvement work practices afterward.
b) Communication: When employers make efforts to discuss downsizing with employees early, employees are less worried about the outcomes and feel the company is taking their perspective into account.
c) Participation: Employees worry less if they can participate in the process in some way. In some companies, voluntary early retirement programs or severance packages can help achieve leanness without layoffs.
d) Assistance: Providing severance, extended healthcare benefits, and job search assistance demonstrates a company does really care about its employees and honors their contributions.

Describe the Various Ways in Which the Negative Impact of Downsizing

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Describe the Various Ways in Which the Negative Impact of Downsizing

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Correct Answer:VerifiedShow Answer

Correct Answer:
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