MBA1515 Q&A Wednesdays: I need to make some layoffs. Should I do it slowly or all at once?
If you’re anxious about letting employees go, you are not alone.
Unemployment rates are at absurd levels, as company after company is forced into mass layoffs. Small businesses are no exception. The only difference? Axing team members can hurt more when the team is small.
Timing can make a huge difference. When you let employees go affects how you let them go, and the difference can be life-altering.
It’s Q&A Wednesday, and we’ve got a listener who’s considering two options: rounding everyone up and laying them off at once, or staggering the layoffs to keep some people for as long as possible. Both options have their ups and downs.
But one may be the lesser of two evils.
Tune in, and we’ll discuss the arguments for and against both approaches, and share our recommendation. Learn how to layoff in the most ethical, damage-mitigating way possible — because things will be normal again some day, and how you treated your team during COVID-19 will matter long after the virus is under control. Click Play!
To submit your questions, visit 100mba.net/q.
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