Layoffs Aren't Over. Beware Of 'Up-Skilling'
40 percent of HR pros think their companies “might” have another round of layoffs by year-end, according to Workforce Management’s HR Anxiety Survey. A further 26 percent said they were “certain” there would be more layoffs.
This doesn’t necessarily contradict predictions that the worst is over, if the layoffs are on a smaller scale than the first half of the year (see our post yesterday).
The catch is that these small-scale layoffs may be the result of companies trying to “up-skill”—replacing underperforming workers with stronger ones at little cost.
“Every company has 5 percent that they wish weren’t there,” Steve Gross, global leader of broad-based performance rewards consulting at Mercer, told
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