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13/11/2008
Redundancies should be 'a last resort' |
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Business should only contemplate cutting jobs during the credit crunch as a last resort, according to the Chartered Institute of Personnel and Development (CIPD).
Gerwin Davies, public policy adviser at the CIPD, said the average cost to an organisation of making someone redundant is more than £10,000.
This does not even include the "loss of credibility" and the cost of recruitment costs when the economy starts to pick up.
Mr Davies added that it has been heartening to see a number of businesses in the UK "hoarding labour" and simply stopping any future recruitment drives or implementing pay freezes instead.
According to the CIPD's Labour Market Outlook for autumn 2008, 26 per cent of respondents to their survey have plans in place to make redundancies over the next year, with almost 60 per cent of them preparing to take such action within the next three months.
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