Culture First with Damon Klotz The Surprising Long Term Impact of Layoffs on Company Performance & Employee Experience.
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Jul 18, 2024 Discover the profound long-term effects of layoffs on both company performance and employee morale. Key insights reveal it takes an average of 18-24 months for psychological recovery, potentially leading to trust issues and survivor's guilt. The importance of effective leadership and communication during these transitions is emphasized. Additionally, the impact of childhood development on workplace dynamics and discussions on gender disparities in leadership are explored. This enlightening analysis offers strategies for fostering a supportive environment post-layoff.
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Layoff Rebound Time
- Culture Amp research reveals that companies take 12-18 months to regain pre-layoff engagement levels.
- This rebound time has increased to 18-24 months, with engagement still down 5% at the 12-18 month mark.
Deeper Engagement Dip
- The dip in engagement following layoffs is now deeper than previously observed.
- This could be due to employees having experienced prior layoffs, leading to increased anxiety and slower recovery.
Honeymoon Phase Impact
- Rebounding engagement is largely attributed to new hires who haven't experienced the layoff.
- These new hires are also in the "honeymoon phase," contributing to higher engagement scores.