HRM 530 Week 6 Assignment 3, Dismissal Meetings and Layoffs

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HRM 530 Week 6 Assignment 3, Dismissal Meetings and Layoffs

Although layoffs are often a necessary evil of business there can be a negative impact on the company because of the layoff.  Often business owners consider a layoff in an effort to save the company or organization money.  One of the first effects of a layoff can actually be an increased cost to the company(Lowrie, 2017).  Although a layoff can eventually save an organization money it is not an immediate fix to financial problems.  In actuality an organization can incur more costs up-front than if the organization maintained its employment level.  The second impact on the company is that of increased turnover(Lowrie, 2017).  Turnover is never a good thing for an organization.  Many future employees utilize the turnover figures when deciding the stability of working for an organization……………Continued

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