More than half of the employers are seeking creative ways to reduce staffing costs in order to delay layoffs, according to a recent survey by talent development accelerator LeadersUp. Just over 20% of employers said they had initiated layoffs and only 10% of employers are actively hiring.
To avoid layoffs, surveyed employers reported they are:
- closing their offices
- decreasing executive salaries and employee wages
- furloughing full-time or part-time staff
The report also highlighted the need for employees to provide more support to employees that have been furloughed or laid off. For example, less than half of employers said they referred affected staff to Employee Assistance Programs.
The survey also took a look at how workplaces are responding to the increased need for remote work options.
- 70% of employers indicated they were providing work-from-home options
- Nearly half (49%) of employees have not adjusted well to virtual solutions during the pandemic
- 60% of employers believe their reliance on virtual solutions will be likely or very likely to increase post-pandemic
Time and experience may help employees adjust to the unique demands of working from home. However, the findings may indicate the need for more robust training around work-from-home issues, such as managing family demands throughout the workday, maintaining professional relationships in a virtual environment, and remaining productive outside of the workplace.
Source: Identifying Opportunities for Rapid Response and Inclusive Economic Recovery, from LeadersUp