Home topics news Credit: Alex Kotliarskyi News News Layoffs vs Alternatives: Offboarding best practices for SMEs Yajush Gupta July 24, 2023 As the economic downturn continues to challenge Australian businesses, Small and Medium-sized Enterprises (SMEs) are facing critical decisions when it comes to employee offboarding strategies. Recent research by Capterra, the leading B2B software directory, reveals valuable insights into how SMEs are handling layoffs and the potential alternatives they can explore. The study, based on interviews with over 1,300 Australian workers, emphasizes the need for effective strategies to minimize the complications that arise during the offboarding process. For SMEs seeking to weather these turbulent times, understanding the impact of layoffs and adopting proactive measures can be crucial for their long-term success. The study, which involved interviews with over 1,300 Australian workers, sheds light on the prevalence of layoffs in various industries. Disturbingly, over a third of surveyed businesses admitted to resorting to layoffs in the past 12 months. Furthermore, 38 per cent of those companies reported an increase in the rate of staff layoffs compared to the previous year. Telecommunications companies have been hit particularly hard, with a staggering 80 per cent of respondents from this sector reporting job cuts within their firms. This industry’s reconsideration of roles, especially in customer experience positions, might be influenced by advancements in technology, such as the adoption of AI tools leading to job automation. For SMEs, the potential of a recession looms, raising concerns about reduced demand for products or services and the