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HR Platforms Mitigate the Impact of Mass Layoffs, Say Experts
Though the tech layoff is making headlines, other working fields are also drastically burning with the layoff trends. Amidst this fearsome situation, the human resource or recruiting agency is playing a significant role in balancing the stress among the workers and chaos within the companies
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‘Layoffs’, a new normal these days, are on full swing from multinational companies to startups. Today when the world is struggling with the economic crisis, organisations are busy laying off people, a cost-saving measure for the company’s survival. If we look at reports and analytics, there is hardly any organisation that failed to hand the ‘yellow memo’ to its employees.
Reports further support this fact stating three to four professionals in India are getting laid off for every 100 jobs axed worldwide. Though the tech layoffs are making headlines, other working fields are also drastically burning with the layoff trends. Amidst this fearsome situation, the human resource or recruiting agencies are playing a significant role in balancing the stress among the workers and chaos within the companies.
Here is what experts suggest:
Sumit Sabharwal, CEO of TeamLease HRtech suggests that HR technology plays a vital role during mass layoffs. It provides the most helpful communication with the employees when they are laid off, often understanding their fear, uncertainty and stress.
HRtech platforms act like a bridge between organisation and employees, with yellow memos alleviating the anxiety and fostering a sense of trust between both, Sabharwal added.
Annanya Sarthak, Co-founder & CEO, Awign said, "fired professionals look at HR organisations for the promising solution to mitigate the impact of upheavals. However, today considering high-skill professionals most of them find contractual or project-based roles with leading companies based on their skills and experience and recruiting agencies provide significant support for same."
On this part, Vijay Yalamanchili, CEO of Keka said HR tech systems offer valuable tools and capabilities to blunt the raised tension causing mass layoffs. Through advanced workforce HR organisations can help companies from making a wrong decision while firing an employee.
Moreover, soon after a layoff, legal issues arise wherein HR tech systems can assist organisations in ensuring compliance with legal and regulatory requirements in the overall process. They can help manage documentation, track individual cases, and ensure the necessary steps are followed. Furthermore, HR also helps in minimising the risk of legal issues arising from improper handling of cut-offs, added Yalamanchili.
Sourabh Deorah, CEO & Co - founder, of Advantage Club, said HR techs strive to reduce the burdens of uncertainty and create a supportive ecosystem fostering resilience and growth among individuals and organisations.