MHR 523 Study Guide - Midterm Guide: Layoff
16 May 2016
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Document Summary
Hiring freeze: a common initial response to an employee surplus; openings are filled by reassigning current employees and no outsiders are hired. Attrition: the normal separation of employees from an organization because of resignation, retirement or death. Early retirement buyout programs: strategies used to accelerate attrition that involve offering attractive buyout packages or the opportunity to retire on full pension with an attractive benefits package. Job sharing: a strategy that involves dividing the duties of a single position between two or more employees. Work sharing: employees work three or four days a week and receive ei benefits on their non-workday(s). Reduced workweek: employees work fewer hours and receive less pay. Layoff: the temporary or permanent withdrawal of employment to workers for economic or business reasons. Termination: permanent separation from the organization or any reason. Effect on individual (career prospects, self-esteem, overall health and well-being).
