MRT Insights

In the past few weeks, reports in the media have indicated the chances of a recession are rising. This has caused concern, as many fear companies will begin to lay employees off in the coming months. We have seen and studied the data and know the concerns of the workforce come from the worries of the unknown.

We want to bring some calm to the storm and share our advice on how to handle the stress or unease that you may be feeling. We know times of uncertainty can bring out negative emotions, but with a few actionable steps after reading this article, you may be more comfortable moving forward.

For Employers:

First, it is important to remain impartial and transparent. Allow your team to understand what is happening and why. Answer questions and be open and honest in answering them. Be empathic and understand that your team must make hard decisions.

Ensuring the team fully comprehends the plan and course of action is equally important. Everyone needs to be on the same page. If your company does have to resort to layoffs, ensure you are handling every individual with respect and give them your undivided attention. Offer as much support as possible including being a valuable reference when they begin looking for other jobs.

For Employees:

It is always good to be prepared. Even if layoffs have not happened within your company, unexpected events happen. This means you should keep your resume updated. It is easy to forget your accomplishments and things you have done in your role that have impacted your company, both big and small. Always keep a running list that you can add to your resume.

If layoffs do begin and you find yourself unemployed, give yourself some time to reflect. You may be angry, upset, or anxious, but understand that this is not your fault. Talk openly with close and trusted family and friends and let yourself heal. Once you are ready, turn to network sites like LinkedIn to find new opportunities and connect with others that may be going through a similar situation. On a positive note, you already have your resume ready to go.

Since the late 80s we have seen the ups and downs of the economy and with that, layoffs. We understand the trials and tribulations of the times for both employer and employee. We are always prepared to help guide individuals who have been laid off or are looking for the next opportunity, as well as help companies pick up the pieces and realign their business after a layoff. The first few months after layoffs for both employee and employer can be critical. Our recruiters have over 80 years of combined experience and can be a useful resource during this transition period.