Identify the right ones is for every manager a tough task at any time, especially if the upper management comes up with the idea to lay off a certain amount of employees at an explicit date. This assignment gives some advice for this task. Prepare a balanced scorecard of the employees with a certain number of measures regularly. Take in account that the results should not contain only subjective marks. This can be achieved by demanding a self-assessment of every employee. This can be part of the 360-degree feedback. The opportunity of a limited competition for the last employees can help to further minimize the subjectivity inserted into the process. Side effects like the too early recognition of the lay off process as well as the chance to use a consultant as a mediator have to be considered.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Methodology
- Restructuring a company
- Introduction to the company
- General assumptions
- Employees of the IT department
- Measures to success
- Measures in general
- Measures for the IT department
- Making a clear cut
- Pure rationality
- Put measures first
- Integration the 360-degree feedback
- Trust to gut feeling
- Recommendations
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
The objective of this assignment is to provide guidance on how to effectively lay off employees in a company facing financial difficulties. The process is exemplified using the IT department of a mid-sized steel company, "First Steel," requiring the dismissal of two out of ten employees. The assignment explores the decision-making process, relevant success measures, the utility of a balanced scorecard, and the role of intuition in the final decision.
- Layoff decision-making process in times of financial crisis.
- The use of balanced scorecards and objective metrics for employee evaluation.
- The role of subjective judgment and "gut feeling" in personnel decisions.
- Strategies for minimizing the negative consequences of a layoff.
- Application of these concepts to a specific organizational context (IT department).
Zusammenfassung der Kapitel (Chapter Summaries)
Introduction: This chapter introduces the context of the assignment, focusing on the financial crisis impacting "First Steel," a mid-sized steel company. The company's response is to reduce labor costs, necessitating layoffs within each department, specifically highlighting the IT department's need to reduce its workforce by two employees. The chapter lays the groundwork for the subsequent analysis, outlining the key issues and methods used to address the challenge of identifying the employees for layoff. The introduction serves as an overview of the problem, setting the stage for the more detailed analysis to follow. It establishes the scenario of the case study and introduces the company, First Steel, and the department involved in this evaluation.
Methodology: This section is likely to detail the methods used throughout the analysis, potentially including the specific metrics and processes used to evaluate the employees in the IT department. It outlines the theoretical frameworks that support the decision-making process. The chapter would provide a clear explanation of the approaches and procedures that form the foundation of the study's analysis of employee performance and the selection for layoff. Therefore, this section forms the basis for understanding the rationales that shape the decisions made in later chapters.
Restructuring a company: This chapter delves into the specific context of the restructuring within "First Steel," providing an introduction to the company, its general assumptions, and an overview of the IT department's employees. It sets the stage for the subsequent evaluation by introducing the key players and organizational factors influencing the decision. This section would likely include the underlying assumptions used within this evaluation, such as constraints due to legal or contractual agreements. The chapter provides a detailed description of the IT department employees' roles, their length of service, and any other relevant information that might influence the layoff decision, laying the foundation for subsequent analyses.
Measures to success: This chapter focuses on identifying the key performance indicators (KPIs) used to assess the employees. It begins by discussing measures in general before focusing on the specific measures selected for the IT department. This part is critical because it explains the criteria used for the evaluation. A balanced scorecard would likely be introduced and described, showcasing the selected measures and their relative weights in the overall evaluation. The chapter thoroughly explains the selection and rationales behind the chosen metrics.
Making a clear cut: This chapter explores the final decision-making process, considering various approaches ranging from purely rational methods based on the measures to the integration of 360-degree feedback and the role of intuition. The chapter emphasizes the complexities of the decision, highlighting the need to balance objective data with subjective judgment and recommendations to effectively complete the process. It discusses the use of a balanced scorecard and explores the ethical considerations associated with this critical decision.
Schlüsselwörter (Keywords)
Layoffs, employee evaluation, balanced scorecard, performance metrics, 360-degree feedback, decision-making, financial crisis, restructuring, IT department, objective measures, subjective judgment, cost reduction, personnel management.
Frequently Asked Questions: A Guide to Layoff Decisions in Times of Financial Crisis
What is the main topic of this document?
This document provides a comprehensive guide on how to effectively manage employee layoffs within a company facing financial difficulties. It uses a case study of an IT department within a mid-sized steel company ("First Steel") needing to lay off two out of ten employees to illustrate the process. The analysis examines the decision-making process, relevant success measures, the use of a balanced scorecard, and the role of intuition in the final decision.
What methodology is used in this analysis?
The document details a methodology likely incorporating specific metrics and processes for evaluating employees within the IT department. It outlines theoretical frameworks supporting the decision-making process, providing a clear explanation of the approaches and procedures used to analyze employee performance and select employees for layoff. This section lays the foundation for understanding the rationales behind the decisions.
What are the key objectives and themes explored?
The key objectives include examining the layoff decision-making process during financial crises, utilizing balanced scorecards and objective metrics for employee evaluation, assessing the role of subjective judgment, and developing strategies for minimizing negative consequences of layoffs. The themes focus on applying these concepts to a specific organizational context (the IT department), balancing objective and subjective decision-making, and ethical considerations in personnel decisions.
How does the document structure its analysis?
The document is structured into chapters covering an introduction to the case study, a detailed methodology, the specific context of restructuring within "First Steel" (including an introduction to the company and its IT department), the identification of key performance indicators (KPIs) for employee assessment, and finally, the decision-making process itself, including the consideration of various approaches and the role of intuition.
What key performance indicators (KPIs) are discussed?
The document discusses the selection of key performance indicators (KPIs) used to assess the employees within the IT department. It emphasizes the use of a balanced scorecard likely incorporating various measures and their relative weights in the overall evaluation. The specific KPIs used are not detailed in the preview but are central to the evaluation process.
What role does intuition play in the decision-making process?
The document acknowledges the complexity of the decision-making process and highlights the tension between purely rational methods based on objective measures and the integration of subjective judgment and intuition. It explores the ethical considerations of balancing objective data with subjective factors in determining employee layoffs.
What are the key takeaways or recommendations?
The document ultimately aims to provide guidance on navigating the complex ethical and practical challenges of making layoff decisions during financial hardship. Specific recommendations for managing the process effectively are likely detailed in the final chapter, emphasizing the balance between objective data and subjective judgment. While the specific recommendations aren't provided in this preview, the document emphasizes the importance of a well-defined methodology and a thoughtful consideration of ethical implications.
What are the key words associated with this document?
Key words include: Layoffs, employee evaluation, balanced scorecard, performance metrics, 360-degree feedback, decision-making, financial crisis, restructuring, IT department, objective measures, subjective judgment, cost reduction, and personnel management.
What is the company context of the case study?
The case study focuses on "First Steel," a mid-sized steel company facing a financial crisis. The analysis centers on its IT department, which needs to reduce its workforce by two employees. The document provides context on the company, its general assumptions, and details on the IT department's employees to inform the layoff decisions.
- Citar trabajo
- Uwe Sülter (Autor), Andreas Roer (Autor), 2009, Identifying the Right Ones. Personal Qualifications for an ongoing Employee, Múnich, GRIN Verlag, https://www.grin.com/document/141834
