COMBAT RISK OF LOSING BEST PERFORMERS IN DOWNTURN

A recent white paper released by the Human Capital Management Division of the IBM Institute for Business Value confirmed several things we already know in giving recommendations for how organizations should cope with the economic crisis.

*  Organizations are most in danger of losing their best performers.

*  "Stay interviews" and a clear performance management process should be adopted to combat this vulnerability.

*  Take care with voluntary attrition programs because they tend to target personnel with the most institutional memory and experience.

*  Critical informal social networks are usually affected when downsizing occurs, which hinders efficient operation of the organization.

Given these observations from experience in past downturns, organizations need to make informed, and not just short-term decisions about the costs of rebuilding resources they lay off, costs of lost productivity when training is eliminated, and what gaps will be created that impact their service delivery and competitive advantage.

Phyllis Weiss Haserot    www.pdcounsel.com

Comments

[Opal]

Good for people to know.