Employee Retention through Downsizing
owenlady
133 Posts
I am wondering if anyone has advice or has faced this situation in the past.
We may lose a sizable block of our business necessitating a downsizing of our current employee base.
However, as we are an insurer, we will need to have sufficient staff on hand to handle our membership until the end of the year and I am wondering if anyone else has dealt with a similar situation.
I know that IF this would come about, employees first reaction would be to seek other employment. My thought is that we would pay them a set amount of money to stay through a particular time frame (3-6 months), but if they left prior to that time, they would lose this incentive.
I don't know of another way to incent folks to stay and I don't know of a place to look and see what is reasonable to offer to pay.
As always, I've turned to the experts. You may post a reply, or you could email me at [email]carole.owen@bgfh.com[/email]
I would certainly appreciate anyone's suggestions.
Thank you.
We may lose a sizable block of our business necessitating a downsizing of our current employee base.
However, as we are an insurer, we will need to have sufficient staff on hand to handle our membership until the end of the year and I am wondering if anyone else has dealt with a similar situation.
I know that IF this would come about, employees first reaction would be to seek other employment. My thought is that we would pay them a set amount of money to stay through a particular time frame (3-6 months), but if they left prior to that time, they would lose this incentive.
I don't know of another way to incent folks to stay and I don't know of a place to look and see what is reasonable to offer to pay.
As always, I've turned to the experts. You may post a reply, or you could email me at [email]carole.owen@bgfh.com[/email]
I would certainly appreciate anyone's suggestions.
Thank you.
