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Is retrenchment the only answer?

retrenchmentA report released by Statistics SA in May 2020, found that one in three South African businesses are considering retrenchment to cope with the Covid-19 pandemic and the lockdown.

The question to ask is, “Is retrenchment the only answer?” As most of the world grapples with the huge changes to our daily lives and ways of working, it might sound strange to say, ‘start preparing for recovery’. But thinking about life post-pandemic is critical if we are to bounce back and thrive as individuals and organisations in, potentially, a very different world.

Over the last few years, one of the Partners in The Change Collective, Redefine Human Capital, helped re-skill staff affected with retrenchments with entrepreneurial skills. Retrenchment is a traumatic experience and anyone experiencing this trauma moves through a grief cycle consisting of various emotional phases, moving from denial to anger, then resistance, before finally concluding in a solution seeking and acceptance phase.

The Redefine programme is designed to move individuals through this cycle as quickly as possible, enabling them to move forward towards ongoing success and sustainability. The programme is geared towards each individual’s needs, however, focuses strongly on individual engagement sessions, career and CV coaching, financial wellness coaching and entrepreneurial coaching.

The programme is offered as Skills Programmes and companies can use Skills Development Spend or allocated SETA spend to invest in the growth of their impacted staff. This Skills Programme is conducted against registered Unit Standards and on successful completion of the Skills Programme, the participants will obtain a formal recognition for the Unit Standard(s), in line with the courses undertaken. The accumulation of credit-bearing Skills Programmes may lead to or contribute towards a full qualification.

This training could be facilitated to those affected employees who have indicated that they would like to become entrepreneurs. These entrepreneurs could possibly become suppliersto the companies where they were retrenched.

This article was submitted by Irisha Luhanga from Redefine Human Capital. If you would like to participate in a similar solution described above, send her an email to confirm your availability for a call. Discuss how you could be part of the solution, by equipping your people to have the confidence to drive their success in this challenging time.

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