The
Industrial Society is urging employers to include work-life balance practices
in restructuring plans to try and avoid redundancies.
Instead
of downsizing operations, the Industrial Society wants firms to adopt
‘reflective restructuring’ as a way to cut costs but save jobs.
In
an exploratory study it has found that the economic downturn has seen many
companies change their approach to flexible working and offer training breaks,
reduced hours and remote working instead of making redundancies.
The
Industrial Society said in the long term redundancies have a negative effect on
share prices and performance as well as reducing employee loyalty and trust.
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“It
is too early to say whether UK firms are adopting reflective restructuring in
great numbers. However, it is clear that firms which see employees as assets
rather than costs are looking for ways to retain skills, loyalty, experience
and commitment of their people by offering a more reflective approach.”
