Careerminds research
The hidden costs of layoffs
With layoffs on the rise, HR leaders need to look beyond managing exits and plan for what comes next. Our latest report explores the hidden costs of workforce reductions and how to minimize disruption and rebuild confidence.
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The layoffs landscape
Nearly 6 in 10 (57%) HR leaders say their organization is likely to conduct layoffs in the next 12 months. Each layoff brings increased scrutiny from employees and the public.
- HR leaders say layoffs are likely in the next 12 months
- 57%
The current state of offboarding
Almost two thirds (63%) of employees who experienced layoffs in the last year say they were handled fairly, suggesting employers are making a genuine effort to manage workforce change responsibly. However, only 45% of HR leaders say offboarding includes career transition support, suggesting a focus on exits over transitions.
- Employees laid off in the last year say the process was fair
- 63%
- HR leaders say offboarding includes career transition support
- 45%
Layoff aftershocks
39% of employees say layoffs negatively affect perceptions of their employer, and these experiences carry outsized brand risk. 40% of HR leaders say layoffs led to increased voluntary turnover, impacting productivity, particularly if high-performing employees leave.
- Employees say layoffs negatively affect perceptions of their employer
- 39%
- HR leaders say layoffs led to increased voluntary turnover
- 40%
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