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With the COVID pandemic into its second year and full recovery at least another year away, struggling businesses will have no choice but to cut costs until the tide turns.
Here are the five questions organizations ask to determine who gets on the list to be retrenched.
It is important to note that besides eliminating the poor and non-performers, organizations will also look ahead and keep employees whom they think can: (a) help turn the organization around; and (b) help the organization take off running when the economy recovers.
- Have they been contributing effectively for the past 6 months? The organization needs performance, and the best predictor of future contribution is past performance.
- What is the quality and speed of their work? While delivering quality work is always important, delivering it fast is just as important. The adage time is money is never more real than in a turnaround situation.
- Are they the type that will go above and beyond to get things done? When times are challenging and the organization is working with fewer employees, each employee needs to pull their weight and more. Being calculative is definitely not a trait employers want.
- Are they team players? Similar to question number 3, there is no time…
