Should Companies Retrain Staff and Avoid Layoffs? (2022) How did employment change during the COVID-19 pandemic? Evidence from a new BLS survey supplement (2022)
Companies need staff. Some positions require specialized training while others are considered entry-level and do not require education, certification, licensure, or advanced skills. An array of workers is crucial for smooth-running operations.
Session Long Project 2 Resources
Understanding America’s Labor Shortage (2022) Should Companies Retrain Staff and Avoid Layoffs? (2022) How did employment change during the COVID-19 pandemic? Evidence from a new BLS survey supplement (2022) How Manufacturers Can Create a Talent Pipeline and Close the Post-Pandemic Skills Gap (2021) Should Talent Be an Extension of Technology, or Vice Versa? (2021)
U.S. Labor Trends
Use the DATA AND SCENARIOS file for this assignment.
Research general trends in the United States labor force since 2020. This section should be ½ a page in length.
Pandemic Industry Hiring Trends
Research the assigned Industry Hiring in Pandemic and explain why an increased workforce was required to support operations during the pandemic. Is the hiring expected to be temporary? This section should be ½ a page in length.
Research the assigned Industry Layoffs due to Pandemic and explain why a smaller workforce was required to support operations during the pandemic. Are the layoffs expected to be temporary? This section should be ½ a page in length.
Research and explain two workforce hiring trends that are expected to be used to support business operations in 2022 and beyond. (Research Support Required – look for articles no more than 3 years old). This section should be 1 page in length.
No quotations are permitted in this paper. Since you are engaging in research, cite and reference the sources in APA format. NOTE: failure to use research with accompanying citations to support content will result in reduced scoring “Level 2-Developing” across the grading rubric.
This is a professional paper, not a personal one based on feelings. It must be written in the third person. This means words like “I,” “we,” and “you” are not appropriate.
SLP Assignment Expectations
Use the template (OPM300 SLP2) to create your submission.
The template is set up in APA 7: double-spacing, font, margins, headings, page breaks, APA help links.
In these difficult economic times, many companies are faced with the tough decision of whether or not to lay off employees. While layoffs may seem like the easy solution, they can be very costly and damaging to a company’s long-term success. A better option may be to retrain existing staff members and put them back to work in new positions. This can be a more cost-effective solution and it can also help keep key employees who might otherwise leave the company. In this blog post, we will discuss the pros and cons of layoffs vs. retraining staff members.
Layoffs may seem like an easy solution to cutting costs, but they can actually be very damaging to a company. When employees are laid off, they often feel betrayed and resentful. This can lead to a decline in morale and a rise in turnover. In addition, layoffs can damage a company’s reputation and make it difficult to attract top talent in the future.
On the other hand, retraining existing staff members can be a more cost-effective solution. It also has the added benefit of keeping key employees who might otherwise leave the company. When done correctly, retraining can help improve morale and build a stronger sense of loyalty among employees.
So, should companies retrain staff and avoid layoffs? The answer is not always clear. Each company will need to weigh the pros and cons of each option and decide what is best for their unique situation. However, in general, retraining staff members is usually the better option. Not only is it more cost-effective, but it can also help improve morale and keep key employees from leaving the company.
What do you think? Should companies retrain staff and avoid layoffs?