Retrenchment and Re-packing the employee retaining

Imagine waking up one day and realizing that you don’t have a job anymore? Well, losing a job can be one of the most stressful experiences a person can go through, especially if you have a family to support. But it’s equally important for you to maintain your perspective to pull yourself out of this crisis. Here are some suggestions to help you cope better the trauma.

Understand the stages of loss:

When you lose a job you feel like someone’s pulled the rug from under from feet. It’s normal to feel overwhelmed, disoriented or just plain cornered on losing a job. The loss of a job is akin to the loss of a loved one. You will go through stages like shock denial, anger, depression and finally acceptance. Recognizing these stages will help you recover better and better.

Though you may be totally distraught, it’s important for you to get whatever is due in form of gratuity, medical insurance, employee’s fund etc. You need to go through the negotiation process with a clear mind. Some employers may also provide psychological counseling to ease your distress.

You might be angry or sad for weeks or even month. Give yourself the time to grieve the loss and express your feelings in a healthy way. You can seek support from a psychiatrist volunteer with an NGO or learn a new hobby. Make sure that you stay mentally healthy and stay away from addictions like smoking, drinking or drug abuse.

It’s important for you to find both professional and emotional support in this period. Try and get some contract work so that you can at least pay off your bills. Join a social group, brainstorm ideas to get work and take help from sympathetic friends or family members. At the same time you should maintain contact with ex-colleagues professional consultants friends, mentors ex-bosses etc to get a full time job at the earliest.

Establish a routine for yourself that will help you stay grounded. Exercising regularly can also help you handle the stress in a much better manner. You can use this time to study new course or learn a new skill which might help you revive your employment prospects. Budget your expenses and find out how frugally you can live, without really killing your happiness. Join an NGO or volunteer for some sort of social service as it really helps you raise your spirits.

The recession is getting over and it is the recovery time. Now organizations are certainly looking forward to re-pack the employee retaining policies. You may be the preferred one who will be picked up by your ex-employer, In all firms, existing employees who are well blended in the system will facilitate the attraction of a lot of new talent during the recession recovery phase. In order to maximize the productivity of employees a workplace needs to be made more exciting to work and a place they don’t want to leave. Providing fertile environments to an employee to crate and develop network, family friendly policies and aiding in bridging the areas of knowledge and expertise will go a long way in securing a long time association of an employee with an organization.

The link between policies and market states is tenuous today. It is not as though that there is a set of policies that apply when markets are up and another one when they are down. Organizations have always been comfortable with losing people who are non-performers while trying to retain those that make a positive difference. The only factor to be wary of now is that career and job options will be back in vogue once everyone presses the let’s hire button. Organizations will need to look at identifying talent that are mission critical and find ways to retain them. Nurturing high performers will set the trend for next few years.

The VAS industry has been quite stable in terms of employment and we have only been hiring on a continuous basis during the last one year. However, the overall job market is looking up and companies will perhaps need to give thought to their strategies in order to retain talent and offer them benefits that have been withdrawn last year.