Chicago Booth Review Podcast
How to make the best of layoffs
Jan 29, 2025
Lisa Stefanik, an expert in interpersonal dynamics at Chicago Booth, shares valuable insights on the often uncomfortable subject of layoffs. She discusses how to communicate layoffs more humanely and consider the emotional impacts on both affected employees and remaining staff. Stefanik emphasizes the importance of compassionate messaging, strategies for managing these conversations with empathy, and utilizing professional networks post-layoff. She also highlights how to embrace layoffs as potential opportunities for growth.
32:54
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Quick takeaways
- Direct communication from managers during layoffs fosters understanding and kindness, reducing miscommunication and frustration among affected employees.
- Handling layoffs with care and clear communication is essential to maintaining company culture and trust, ultimately improving employee morale and productivity.
Deep dives
The Importance of Direct Communication
Laid-off employees benefit from receiving news directly from their managers, as this approach fosters kindness and understanding in difficult conversations. Avoiding this directness often leads to miscommunication, poor planning, and feelings of frustration among those affected. The emotional impact of layoffs can be managed better if communication acknowledges the humanity behind the roles being affected. Thus, conducting layoffs as transactions disregards the personal connections and feelings involved, often leaving employees feeling alienated.
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