by Keith McMurdy
Even as we watch the stock market slowly recover, organizations are still laying off employees and searching for ways to cut overhead. It’s important to keep in mind that cutting staff often has implications beyond the hurt feelings and added work for the skeleton crew that remains.
If your organization is eliminating even one job, plan it carefully. A hasty layoff can create legal problems that cost more down the road than keeping the employee would have.
Here are 10 things to consider:
1. Consider the new COBRA subsidy. If you lay off workers, that cuts . But the American Recovery and Reinvestment Act of 2009 says your organization has to pick up 65% of a departing employee’s COBRA payment for nine months if the involuntarily separated worker elects to stay on your health care plan.
2. Document your business reasons for the layoffs, whether you’re terminating one person or 1,000. Unl...(register to read more)
- How to Fire an Employee the Legal Way: 6 Termination Guidelines
- 10 Secrets to an Effective Performance Review
- How to Write Meeting Minutes
- Do you hear what I hear? Sound of closing year-end books
- Obama signs Ledbetter Act, easing path for pay-bias suits
- Consider offering long-term care insurance
- Before assuming you must accommodate under ADA, evaluate disability and ability