True CSR is about how caring you are to all your stakeholders.. and one of the most imporatant stakeholders are your employees. I have seen the ugly side of business – of treating employees as dispensable cost saving overheads rather than important investments that need to be nurtured. They do not seem to realise the emotional and psychological damage that happens to not only the laid off employees but also those who remain. Most CEOs look for quick results and today layoffs seems to have become a fashion statement. Any company that contemplates layoff needs to first start with the CEO. It is their failure..not that of the business environment. Taking care of their employees especially during these trying times is the most important CSR initiative.
I totally agree 😀
As they say “The bottleneck is almost always near the top of the bottle” If a company needs to do layoffs because its strategy has failed or because it has made losses in some businesses, then heads at the top of the business need to be laid off first.
When we visited Kolkata (then, Calcutta) in my childhood, we were familiar with a term called Load Shedding. That meant, that West Bengal didn’t have energy to meet the demand from the city and therefore we all would be subjected to powercuts for a couple of hours (if we were lucky) every day.
Seems like that age old affliction has stricken in a new way the MNC firms – first there was news of Amex cutting jobs including in India, and now comes the news that Nokia is slashing jobs too, though the number is not like Amex.
On a slightly different trip Michael Dell asks his employees to cut costs by taking unpaid vacation.