When times are starting to get tough, do you risk losing an employee or can you pivot and offer new opportunities internally?
Europe is heading for a recession as the cost of living crisis deepens, which will have knock on effects for organisations and their ability to sustain their current operations. The shift from the great resignation to what could become the inevitability of a great redundancy will set many organisations back. How can we ensure we are being proactive rather than reactive in our approach to our people strategy? Rolling out the default reaction of cost cutting is a short term benefit which has a huge impact coming out the other side. The loss of an employee is not a siloed impact, there is a loss of experience, passion and business familiarity which can be hugely challenging to replace in the future. Redundancy loses not just vital skills for your organisation but industry experience.
How can you use the role of HR to see a crisis and turn it into a positive? How can we identify new opportunities internally, whether than be through adjacent roles, project secondment or upskilling to create new value?
Join a group of people leaders from across industry for an intimate Chatham House discussion.
The conversation will likely follow the below agenda points:
- What do you need to be building at this point in time before starting to cost cut?
- How can you understand your skills framework across your industry?
- Is there the potential to retrain/redeploy before even starting to think about redundancy?
Simply sign up at the below link to register your interest and someone will be in touch.