When Layoffs Are a Thing of the Past

Even the most nimble and successful companies are sometimes forced to replace huge swaths of their workforce when business strategy changes. But layoffs come with costs: hiring and firing workers is expensive. Letting workers go can also damage an institution’s reputation and demoralize the employees who remain. BCG’s Kevin Kelley explains how companies can reduce the need for layoffs by creating teams that are flexible enough to pivot as priorities shift. The key is to avoid turning teams into silos that know how to do only one thing and thus become obsolete when priorities change. Learn More: Kevin Kelley: https://on.bcg.com/4kSmNLN Resetting the Organization to Improve Cost and Enhance Effectiveness: https://on.bcg.com/3ReXxla BCG’s Latest Thinking on Cost Excellence: https://on.bcg.com/4irJBjB BCG’s Latest Thinking on People Strategy: https://on.bcg.com/43Mo2WI BCG on Organization Design: https://on.bcg.com/4krU0gW This podcast uses the following third-party services for analysis: Podtrac - https://analytics.podtrac.com/privacy-policy-gdrp