Downsizing has a negative impact on employee morale and the overall functioning of an organization. Remaining staff may feel overworked and stressed about job security.
Savings gained from staff reductions may be offset by declines in such areas as work performance and customer service. Moreover, recruiting new staff when business is booming again can be costly and time-consuming.
If you’re looking for an alternative to downsizing, the federal work-sharing program helps employers avoid temporary layoffs when normal business activity has slowed. The measure provides income support to Employment Insurance eligible employees willing to work a temporarily reduced workweek.
The Employer Sponsored Training Program can help eligible employers with financial assistance to support training activities for employees who would otherwise lose their jobs.
For more tips on how to avoid layoffs, see WorkBC’s Workforce Reduction Program section.
