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With inflationary pressures and lingering fears of a recession, 2023 has seen layoffs in nearly every sector of the economy. But layoffs have their own price tag, which often includes severance payments to affected employees, loss of institutional knowledge, diminished employee morale, and reputational harm. Before committing to a reduction in force, employers should consider […]
Mergers and acquisitions bring lots of financial opportunity, but they can sometimes result in upheaval in the workforce as the new entity determines whether it will operate the business differently from its predecessor. If the new business decides to change the workforce, how should it make those decisions? A recent appeals court opinion sheds some […]
2023 is not just another year of disruptions. It’s a year in which business and HR leaders must play defense and offense at the same time. This means performing a realistic appraisal of the current situation—inflation, recessionary concerns, and geopolitical instability—and making defensive adjustments to the business that may involve cutting back on staff. At […]
The U.S. Bureau of Labor Statistics predicts that nearly a quarter of the workforce will be made up of people age 55 and older by 2024. That contrasts to 1994, when just 11.9 percent of workers fell into that age group. If the projection for 2024 is correct—and the aging of the baby boomer generation […]