Over the past few months, many employees working in the tech industry have been laid off. According to Forbes, some of the world’s biggest tech companies have collectively laid off more than 150,000 workers in the last couple of months. This is a highly uncertain time for anyone working at a tech company, and it can be difficult for company leaders to keep these remaining employees engaged amidst the mass layoffs. In this episode of our Back to Work podcast series, Kayla Lebovits, CEO and Founder of Bundle (a virtual solution that helps companies invest in their employees' development and engagement), and Joe McIntyre, our host, discuss how to keep your workforce engaged and motivated after layoffs occur.
Listen to our Podcast below:
The Workplace Impact
After layoffs, it's crucial for employers to recognize the feelings and accommodate the needs of their remaining employees. They will likely be upset about their colleagues being let go, worried about their own job security, and stressed about the new job duties they will inevitably have to undertake.
Companies need to directly address layoffs and reconstruction, and Kayla suggests in the podcast that this communication should start from the top managerial level and trickle its way down the organization to avoid miscommunication. Ensuring that managers at every level are equipped with the means to guide their employees through this difficult transition will be the best way to overcome any challenges that arise.
Company leaders need to make sure they are checking in on their employees and providing internal resources to help them cope with the anxiety they may be feeling − and employees cannot be afraid to speak up. As long as the right leaders are in place and employees feel supported throughout the company's reconstruction, the workplace impact does not have to be entirely negative. Everyone can get through the obstacles together and emerge even stronger when it's time to hire new workers.
Rebuilding Motivation and Trust
The most important thing to do after layoffs occur is to rebuild motivation and trust across the organization. In the podcast, Kayla and Joe discuss that honest communication and transparency are the keys to a successful rebuild. Leaders should openly share if its the end of layoffs, how they plan to restructure, address new workloads, etc.
If employers are being vulnerable and keeping their workforce updated on each phase of their plan, the trust they had pre-layoffs will resurface. It's essential that employees are not in the dark regarding the safety of their job or they might leave the company due to fear.
A loss of motivation is also common after layoffs occur. One of the best strategies to rebuild motivation throughout the organization is by doing more to promote the culture and hosting team-building and wellness exercises. These activities will help bring everyone together while boosting employee morale and motivation.
The Future of Layoffs
These unprecedented times are not solely affecting the tech industry − employees in other industries have begun questioning their job security, too. Although layoffs are vastly industry-specific right now, many people worry that this could change at any moment.
Kayla predicts in the podcast that we will continue seeing these layoffs for at least the next 12-18 months because a lot of companies hired too aggressively during the pandemic, and they are realizing the negative effects now. We are still in a volatile market, and no one can say for certain what will happen next.
To close out the podcast, they discuss what employees can do to make sure they are not next in line to be laid off. Listen to the full podcast here for additional insights.