Layoff Drive: Experts suggest these proactive measures for companies to retain talent

livemint.com:

layoffs in 2022, according to data from AltIndex.com. However, it also creates an opportunity for companies with long-term plans to recruit and retain top talent. Tushar Dhawan, Partner, Plus91labs believes that it's crucial for corporations to adopt proactive measures in retaining talent during the challenging scenario of layoffs across the world.

According to Dhawan, transparent and empathetic communication about the situation can help build trust and alleviate anxieties. In addition, offering reskilling and upskilling opportunities not only equips employees for evolving roles but also demonstrates the company's commitment to their growth, he told Livemint. “Creating a supportive environment through counseling, networking, and mentorship programs can enhance morale and foster a sense of belonging.

Moreover, recognizing and rewarding employees' contributions, even in difficult times, boosts motivation," Dhawan said. Nowadays, companies are using proactive techniques to retain employees and unpredictable times like layoffs, said Bhaskar Ganguli, Director of Marketing and Sales at Mass Software Solutions Pvt. Ltd.

Ganguli said, “Companies must go beyond traditional techniques, recognizing that retention is about more than just money. Organizations create an atmosphere where employees feel valued and driven by cultivating an inclusive culture, honoring individual and collective achievements, and giving opportunities for innovation." He asserted that digital technologies can improve operational efficiency while also allowing seamless remote communication, demonstrating an organization's agility. “It is a commitment to the individuals that propel the organization forward.