PUSHP ACHARYA’s Post

Economic downturns, company restructures, or even unexpected crises can leave employees feeling vulnerable about their job security. However, there are proactive steps you can take to safeguard your career and minimize the risk of being laid off. In this blog post, trying to explore strategies to help you navigate uncertain waters and steer clear of the layoff storm. #layoffs #womenintech #preplaced #upskilling #techjobs

Your layoff can be a crisis or an opportunity. I share some sage advice about what to do when a sudden change at work happens. I've been laid off twice in my life when I used to be an employee. I used these tips, and I found work in two weeks. I also picked up side hustle work, realizing employers aren't very good at forecasting growth. Something that happens when the folks running the company have broken money brains. A broken money brain creates a roller coaster of profits and losses. Adds more stress and often tries to hide a financial problem from others until it's upon them. I help individuals and leaders rewire their broken money brains into a thriving money brain. It takes 15 minutes a day for about 90 days. You can send them this article if you know someone or have experienced a layoff. You never know if it may help them get back on track and uncover new opportunities. #layoffs2024 #lawire #opportunityknocks2024 #beamoneypro https://loom.ly/0Iug9-c

It’s been a tough year for workers and job-seekers. #Layoffs hurt, and when companies are forced to cut part of their workforce, it can tank morale and productivity — and send employees into an anxious spiral. The financial necessity is often real, but so are the consequences of slashing jobs. For leaders and executives, layoffs present an opportunity to pause and evaluate their company structures and strategies. Following a reduction in force, every organization should take the moment to ask “How can we avoid this in the future?” One answer: Spend more time determining what roles are mission-critical. Prioritize. Search for redundancies, and create positions that are meant to pivot, change and grow as your business does. In an uncertain economy, investing this time up front could save you — and your company — pain down the road. Be intentional. Your employees will thank you.

Mass-layoffs are devastating for those who are fired and those who survive. Most of the time, they are not even necessary. It is the easy way out to increase shareholder value. Morally, I can only accept one scenario: This option is chosen as an ultima ratio and before they layoff, top managers cut their own salaries by half to really make sure that this is ultima ratio. If we would establish this as a rule, we suddenly would see very few mass-layoffs. And fewer projects for McKinsey.

The cost of layoffs is high for those who stay, not just those who go. This article quotes prominent experts who show that the approach to layoffs has got more brutal and less humane, with more limited severance packages and often several rounds, which allows planners to hedge their bets, and destroys even more morale and goodwill in the process. “Slashing jobs may not even help a company’s stock price, because layoffs signal to the market that a company is facing trouble. And severance and other layoffs expenses can add up. So why do companies, especially tech firms sitting on piles of cash, keep letting people go? Because everyone else is, Jeffrey Pfeffer, a management professor at Stanford University, argues. Tech companies are “rolling in dough, and in many instances their stock prices are at or near an all-time high,” Pfeffer told me. So the idea that the layoffs are fundamentally driven by financial necessity is “not true at all”—he sees it more as a case of “social contagion.”” This is mimetic isomorphism. You see it in sustainability, compliance, risk, and definitely in HR. The collective lack of imagination and refusal to innovate is staggering, and it comes at a staggering cost: https://lnkd.in/dVnqWWJj

Remember The Great Resignation? Wild times. But what happens when there are almost no jobs on the market for two years, and employees who would usually be looking during that time wait around a bit, and then the people who are just ready to consider new opportunities start looking at the same time...and there are still some people from layoffs just starting to search for something new? And recently quiet employers are now starting to hire again?! Rewilding is upon us, I feel it in my bones. GET READY. (FWIW my LinkedIn response rate keeps going up and up from a couple of years ago, and I have done nothing to deserve this.) #talentacquisition #recruiting #hiring #candidatemarket #nearfuture #greatresignationpartTWO #hotseasoniscoming

I would argue that this is coercive isomorphism – which is important if we’re trying to diagnose the root cause of tech co layoffs. Isomorphism = the process that leads to the sameness of org structures, practices, and strategies across firms within a given field or industry. A concept from the 80s I remember being excited about in grad school which helped explain my early experiences on wall street. From the 1983 paper: The Iron Cage Revisited: Institutional Isomorphism and Collective Rationality in Organizational Fields by DiMaggio & Powell. There are 3 types of isomorphism: mimetic, coercive, and normative. -- Mimetic isomorphism means the tech cos are copying each other. But they are responding to shareholder demands for efficiencies post hyper boom. The stock price goes down if they spend too much and keep too many folks employed, and the stock price goes up when layoffs are announced and CAPEX is held in line. Just see the Meta/Facebook “turnaround” in action. Normative isomorphism is brought about by professionalism and training - how the field approaches problems. Notice how the norms of tech have quickly changed. Coercive isomorphism involves pressures on an organization from other organizations they depend on. A different beast. It means that in the board rooms of these companies, they are not comparing themselves to Meta or Alphabet, but seeing what happens to stock prices in those other companies, and how shareholders are rewarding, and penalizing.

Horrific. So many posts from people who have been laid off and are worried about losing their homes. I don’t need to be told what capitalism is. I understand it. I don’t need to be told that jobseekers should just get a gig job or any job at all. I get it. I don’t need to be told that layoffs are a part of coprorate world. I’ve experienced it. I get it. I don’t need to be told jobseekers need to apply more, get creative, put themselves out there, apply for lower paying jobs I get it. When I was laid off I did all I could to secure a job. I started doing consulting on my own. I considered if I would have to get small jobs to pay bills if I ever stayed unemployed too long. I was open to bridge jobs that paid less but got me back employed if needed. But the fact that so many thousands of people are losing their homes because of a quick 15 minute sorry we don’t need you anymore call And CEO’s like the head of CitiGroup who just announced 20,000 layoffs make 24.5 million dollars a year Something is wrong. The rich and CEO’s get richer and the rest are struggling. I understand CEO’s deserve higher comp, but the gap keeps widening without any responsibility when things go awry. Be a good human. #layoffs #opentowork #leadership #responsibility

The Layoff Blues: Navigating a Shifting Job Market in 2024 As 2023 draws to a close, whispers of "restructuring" and "downsizing" continue to echo through corporate corridors, leaving many professionals facing the harsh reality of layoffs. It's a sobering reminder that even in a seemingly bustling economy, job security isn't always guaranteed. Just this month, headlines have been dominated by giants announcing significant workforce reductions: *Goldman Sachs: Planning to cut up to 4,000 employees, citing a potential global economic slowdown. *Paytm lays off over 1,000 employees, impacting 10% of its headcount. *Social media unicorn ShareChat lays off 15% worker in order to cut costs and increase profitability. These are just a few examples, and the list, unfortunately, keeps growing. While some industries, like healthcare and hospitality, are experiencing robust hiring, others, particularly technology and finance, are tightening their belts. So, what does this mean for the rest of us? Facing the Future: *Refine your skillset: Continuous learning is key. Invest in courses, certifications, or online resources to stay ahead of the curve and adapt to evolving industry needs. *Network & build relationships: Your professional network can be your lifeline in uncertain times. Actively engage with colleagues, mentors, and industry professionals to stay informed and explore potential opportunities. *Embrace flexibility: The traditional 9-to-5 might be losing its grip. Be open to freelance work, contract roles, or remote opportunities that offer greater flexibility and adaptability. Remember, even amidst layoffs, opportunities exist. While navigating this volatile job market can be challenging, staying proactive, resilient, and open to new possibilities will serve you well in the long run. #layoffs #jobmarket #futureofwork #careertips #resilience #opportunities #upskilling #continuouslearning