The mission of a company’s L&D organization is to provide the business with a skilled workforce that enables it to achieve its business goals. In a tight job market, the ability to upskill the workforce takes on an even more critical role. The costs of new hires are high. Wage inflation, time to productivity, culture fit (or first-year attrition due to the lack of it) are only two components of this cost equation.
So in this environment think about this. As L&D continues to ask for a “seat at the table.”
“Layoffs hit their highest level for a first quarter in 10 years as 2019′s job market got off to a shaky start, according to a report Thursday from outplacement firm Challenger, Gary & Christmas.
Total announced cuts hit 190,410, a 10.3 percent increase from the fourth quarter, and a 35.6 percent jump from the same period a year ago. The level was the worst period overall since the third quarter of 2015 and the highest level for a first-quarter since 2009 as the economy was still mired in the financial crisis.”
-Jeff Cox, CNBC
And that is not to mention the lost revenue and growth opportunities due to the mountain open positions.
And yet when you Google “CLO’s fired” you get ZERO results. I understand that many factors play into layoffs and but with automation increasing and the digitization of the workplace sweeping overall business sectors shouldn’t we all be targeting the lowest layoff levels and job openings possible. With a seat at the table will come accountability. Are we ready for it?