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Many companies across New Zealand and Australia have had to make to difficult decision to downsize their workforce amidst the current uncertainty.
We all know if this is not handled with care it can cause major disruptions to your people and business. When making the decision to downsize you must assess every aspect of a person’s role, the implications that will have on your remaining workforce and how it will impact your long term continuity goals.
There are many options to explore before deciding to downsize your team. Speak to your employees and discuss the options of taking annual leave, taking leave without pay, reducing hours and days worked and giving them their options for government assistance.
For information on the Australian government’s financial assistance package click here.
Or for New Zealand’s package click here.
If the option to reduce hours or take leave isn’t available then you will need to prepare for some tough conversations with your team. With these basic steps, you can minimize the disruption and negative effects this may cause. Keep in mind the long term as these decisions will enable your business to come out the other side stronger than ever.
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