I had a pleasant reunion with an impressive young woman I met last year. She has a marketing position in a high profile financial services firm, and survived four rounds of layoffs in the past nine months.

 

Her old department was eliminated during the restructuring, and she was temporarily reassigned to another job with the understanding that she'll have a more suitable one once the dust settles. Although she's not thrilled, she likes her company and wants to make it work.

 

I was struck by what her firm did. It would have been completely understandable if she had been laid off. After all, her former department no longer exists.

 

Clearly, they recognize her as a top performer. More importantly, their actions (finding her a temporary job in the company) match what they said to her ("we want you to stay").

 

How are you safeguarding your top talent?

 

Even though the worst of the layoffs are over, additional reductions are likely if the recovery continues to limp along. When times are really tough, it's essential to preserve the relationships with the people we value.

 

I spoke with one such CFO who painfully laid off a key team member recently. He had held off doing this until he no longer had a choice. Importantly, they have a good relationship. The CFO is making extra effort to preserve the relationship because when the economy swings back, he'd like to rehire him.

 

If you've run out of options and need to downsize or redeploy your talented people, keep the dialogue open and direct. Make sure you align your message with your actions. When you value someone, don't keep it a secret.

 

Have a great week!

 

 

Copyright 2009 Lisa M. Aldisert

 

 

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Our goal is to provide you with timely tips so that you can more effectively run your business. We know you have a ton of mail in your inbox, so we're committed to brevity and practicality.

 

 

Show interest in what your people do outside of their work with your company. You'll learn more about them, and they'll appreciate your interest. 

 

 

Volunteer for a non-profit whose cause means something to you. You'll feel good by volunteering, and the organization will welcome your time and talent.

 

 

There are a number of recent college graduates who are unemployed. Consider providing temporary employment by hiring one as a three-month intern. 

 

 

 

 

Julia E. Rosenbaum