Highest unemployment in 14 years! Your staff needs to know what it means for them
October saw the highest jump in the U.S. unemployment rate in 14 years. Now, all eyes are on you for answers as to how your company will be affected.
According to the Department of Labor (DOL), the unemployment rate rocketed to 6.5% in October. That’s higher than we’ve seen in over a decade, and people are starting to panic.
Even the most optimistic economic experts are calling this a severe recession.
So what should you do? That depends on how you’re affected.
If you don’t have to make cuts, you should communicate this to your staffers and put their minds at ease. Constantly worrying about job security can really hurt employees’ productivity and well-being.
On the other end of the spectrum, if you have to downsize, how you handle it makes all the difference. Previously, we outlined how your company can make the most of the unfortunate reality of cutting employees.
- Share on
Free Training & Resources
White Papers
Provided by Anaplan
Webinars
Provided by Yooz
White Papers
Provided by UJET
Further Reading
The traditional “bean counter” role of the CFO is a thing of the past. Today’s financial leaders are expected to boost ef...
If you’ve been in Finance for a long time, you know there are a lot of situations when you can trust your instincts. Beyond number...
Increasingly clever cybercriminals are out to take your company’s money. They’d even stoop so low as hacking you with a purchase order ...
When dealing with an employee who people complain is odd or just don’t get along with, many managers will eventually let that person go.Â...
CFOs and controllers are on the lookout for every angle to keep spending in check. The last thing most companies want to do is lay off peop...
Studies show employees miss a couple of days of work every year due to stress. Then there are the folks who come into work anyway but are t...
