Based on Korn Ferry's "Impact of COVID-19 on Rewards & Benefits - Pulse Survey #3" of approximately 3,500 human resources executives and managers globally, as respects long-term workforce cost reduction measures, 25% of organizations have implemented or are considering permanent staff layoffs/redundancies (with an average reduction of 12%) and 10% of organizations have implemented or are considering early retirement programs. Workforce management practices going forward are expected to change fairly significantly for the better, as shown in this excerpt here (p. 35):
Notably, nearly half of organizations plan to encourage more open, transparent and frequent employee communications and 38% plan more focus on employee engagement. See our report on Korn Ferry's 2nd Pulse Survey here ("Post-Crisis Future: Remote Work Arrangements & Cost Containment").
This post first appeared in the weekly Society Alert!