Between record-breaking inflation rates, supply chain disruptions and the Fed hiking interest rates up, many are concerned that the U.S. economy is headed toward a recession — and that its arrival will bring along a wave of layoffs.
The U.S. has more than a 50% chance of a
While there may be no way to stop layoffs from happening, that doesn't mean companies have to add salt to the wound by engaging in poor termination practices, says Nolan Church, co-founder and CEO of Continuum, a talent marketplace for freelance, executive roles.
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"Unless you've been through it, you have no idea what it's like to create a list of people that are about to lose their jobs," says Church. "Continuum wants to help companies through this time because I've been through it, and I know."
Church was the chief people officer at software company Carta, where he led the April 2020 layoffs, losing 16% of their talent. For tech companies considering layoffs, Continuum is offering one free hour of advising with experienced HR leaders — for those who need more assistance, they can opt for a 10-hour package that includes advising, as well as a DEI impact analysis. Church hopes his, along with other executives' experiences, can inform leaders on how to humanely approach layoffs.
"In April of 2020, nobody really knew what was happening," he says. "And it's very hard to understand what the right thing is when you can't predict the future."
Although predictability is hardly a guarantee during economic upheaval, Church shares his seven best practices all employers should keep in mind if they must undergo layoffs.