Sridhar Laxman

Sridhar is the founder of Lucid Minds Coaching and coaches top executives from across the globe on topics related to hr and employee well-being

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What Should Companies Practice Instead Of 'Sudden Layoffs'?

An energetic, engaged and enthusiastic workforce will be the key differentiator in a world

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layoffs, pink slip, job loss
What Should Companies Practice Instead Of 'Sudden Layoffs'?

Organisations can create a healthy work environment by implementing employee-centric policies and initiatives that promote well-being in the workplace. An energetic, engaged and enthusiastic workforce will be the key differentiator in a world where every company will have access to similar tools and technology for running  their businesses.

This approach to wellbeing is based on the idea that in order to truly feel well-being, a person’s physical, psychological, emotional, and spiritual needs must be balanced.

Implementing a robust well-being program can lead to greater employee engagement and give employees a sense of meaning and purpose.

Being satisfied, happy, and in good health is considered a sign of well-being, and that  state contributes to the overall energy, performance, creativity, and problem-solving ability that an employee brings to the workplace.

Here are some ways companies can improve wellness and avoid sudden layoffs.

Open Communication: Build and maintain multiple open communication channels to keep employees updated on the company's growth, progress, financial situation and impending changes. Consistent, timely communication can build transparency and trust in the workplace.

Support: To aid employees in coping with stress and other challenges, provide employee assistance programs, including mental health support, coaching and counselling services. Creating a workplace culture of trust and transparency ensures that everyone feels safe and respected. Additionally, employers should take a holistic approach to employee wellness by offering flexible working hours and arrangements, access to wellness programs, mental health resources, and other forms of support.

Flexibility: To help employees balance their professional and personal lives, allow them to work from home, alter their hours, or split responsibility. This flexibility can reduce stress and burnout, leading to better mental and physical health and greater job satisfaction.

Training and Development: Give employees a chance to grow professionally and improve their abilities by offering regular development opportunities. Employee morale and motivation can be raised by providing access to multiple modes of training and development, like mentoring, coaching, access to digital courses, and experiential training.

Mental Health Support: Provide flexible leave policy, unlimited access to mental health service providers, and discounts for gym memberships to encourage workers to take care of their physical and psychological well-being. Ensure employees have access to health and wellness education, such as seminars or workshops, to make informed decisions about their health and well-being.

Rethink Workplace Policies: Mental health and well-being are finally getting the attention they deserve, particularly in the workplace. Long work hours, high- pressure environment, tight deadlines, conflicts, tech disruption, growing job insecurity coupled with increased personal responsibilities and challenges are taking a toll on employee well-being. An energetic, engaged and enthusiastic workforce will be the key differentiator in a world where every company will have access to similar tools and technology for running their businesses.

Collaboration: Encourage teamwork and collaboration among employees by building psychological safety, improving the sense of belonging and ensuring a shared vision and purpose for the teams. Additionally, enabling constructive feedback, timely recognition and encouraging appreciative conversations is also helpful in strengthening team spirit and collaboration.

Employee engagement: Enhance employee engagement by including them in decision-making processes and allowing them to offer suggestions and comments. Employee engagement is vital to any successful workplace, as it will enable employees to take ownership of their work and have their voices heard.

Revisit performance management system: Reassess to ensure it is visible, fair, and consistent. Encourage open and honest feedback, and make sure you recognise individuals for their efforts. This can come in various forms, such as recognition, financial bonuses or awards for accomplishments and small gifts.

In-house Wellness Programs: Offer exercise classes, healthy food options, and stress-reduction sessions to enhance physical and emotional well-being. These activities are all great ways to show employees that their wellbeing is important and that you are invested in their success By investing in the health and wellbeing of your employees, you create a work environment that is healthier and more conducive to productivity.

Redefined Employee Exit Strategy: Reframing and reexamining the exit process can involve reviewing and possibly restructuring the steps and procedures followed when an employee leaves a company. This can include things like exit interviews, the return of company property, and final pay-checks. The goal of reframing and reexamining the exit process is typically to make it as smooth and efficient as possible for both the employee and the company. It may also aim to ensure that the company does not lose any valuable information or knowledge from the employee during the exit process.

Benefits: Offer competitive benefits packages that include paid time off, retirement savings plans, and health insurance. This will demonstrate to them that you value what they do for the company and will assist you in attracting and retaining good staff. By creating an open and inclusive environment, employers can foster better collaboration between employees and allow them to work together towards common goals.

The above steps can help firms create a positive workplace environment and help them retain talented employees. Today, more than ever, companies are going all out to hire the best talent available. Compensation is no longer restricted to bands. Innovative approaches are being thought of to hire, retain, and groom talent. Technology is changing the familiar world at a rapid pace, and and organisations must constantly train their workforce in order to remain competent and competitive.

Organisations must put well-being at the heart of everything they do to be competitive, prosperous, and sustainable. Therefore, respect and dignity should be top and centre while framing organisation structure and policies. When talent is hard to find and fleeting, organisations that pay attention to employee well-being will get a more creative and productive workforce.

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house

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