Human Resource Executives are urging companies in the country to restructure their company strategies and policies to avoid layoffs this year.
Current economic challenges in the country last year pushed many companies to lay off workers in a bid to stay afloat. Early this year, the Ghana Employers Association warned more layoffs are likely to be embarked on this year due to the ongoing economic challenges.
Speaking to Citi Business News, the Global Markets Executive of the Society for Human Resource Management, USA, Howard Wallack, said companies need to restructure their company strategies to avoid layoffs.
‘‘When companies have to shrink or contract, they think that one of the easiest things to do is to cut back when in fact there is data that shows that companies that maintain training and education for their employees came out of the global financial crises better”, he siad.
“Having a company attitude or a policy helps. So I think it’s important to be analytical and judicious and not necessarily assume that the first cut is going to save you in the long run. You need to project and plan to figure out where the best value is for the cut,’’ he added.
–
By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana