Last in, first out is usually the way many organization approach layoffs in a touch economy. With possible financial difficulties on the horizon, we are breaking down this philosophy and debating if it's actually the right thing to do.
HOW DO HR PROS APPROACH LAYOFFS?
"When considering layoffs, 65% of HR professionals surveyed by BambooHR said their companies largely use a “last in, first out” philosophy, meaning recent hires are more likely to be laid off than tenured employees, according to BambooHR’s April 19 report. Of the roles most likely to be cut, employees believe marketing will be the first to go, followed closely by customer-facing roles. Notably, taboos about hiring those who were laid off have largely fallen by the wayside, BambooHR’s report says; 92% of HR pros surveyed said they were just as or more willing to hire someone who was laid off." Learn more
WHAT EXACTLY IS "LIFO"?
"The tech industry continues to suffer a steep downturn and more HR leaders are facing the hard questions of who to let go and why. Perhaps one of the most storied practices for deploying layoffs is the concept of “last in, first out,” but experts now say following this path could come with the risk of losing some of your most diverse hires and top performers. In fact, it could be downright discriminatory.
I spoke with several HR and industry leaders to learn more about the often unseen risks associated with the practice and some of the best alternatives and solutions in times of making cuts." Learn more
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