How to support employees through a business closure
Tools & Resources
Key learnings
- Draw on your compassion and empathy when supporting your employees through a business closure.
- Offer practical assistance to help your employees to understand their rights, find new jobs, upskill and transition to their next role.
- Be transparent and keep lines of communication open to reduce the uncertainty and anxiety your employees may feel.
- Celebrate positives and consider a farewell gathering to help provide a sense of closure and pride in what has been accomplished.
Business closures can be a challenging and uncertain time for employers and employees. As an employer, it is essential to prioritise the wellbeing and support of your employees during this difficult period. In this article, UMi partner Croner explains how you can provide guidance, reassurance, and practical assistance, to help mitigate the impact of the closure and ensure a smoother transition for your employees.
Click each heading below to read the guidance.
1
Transparent communication
Clear and transparent communication is crucial during a business closure.
Inform your employees about the closure as early as possible, providing them with an explanation of the reasons behind the decision and the timeline of the closure.
Be open to answering questions and addressing concerns to reduce uncertainty and anxiety.
2
Empathy and emotional support
Acknowledge and understand the emotional toll that a business closure can have on employees.
Offer empathy and emotional support, creating a safe space for employees to express their feelings and concerns.
Consider providing access to counselling services or facilitating support groups to help employees navigate their emotions during this difficult time.
3
Assist with job transition
Offer assistance and resources to help employees navigate the job transition process.
This can include providing access to job search resources, resume writing workshops, and interview preparation sessions.
Collaborate with local job placement agencies to connect employees with potential job opportunities.
Offering job transition support demonstrates your commitment to supporting your employees beyond the closure.
4
Provide financial guidance
A business closure can have financial implications for employees. Consider providing financial guidance and resources, such as information on unemployment benefits, financial planning workshops, or referrals to financial advisors.
Help your employees understand their rights and options during this challenging period.
5
Offer training and upskilling opportunities
Invest in your employees' future by providing training and upskilling opportunities. This can enhance their skill set, increase their employability, and boost their confidence during the job search process.
Collaborate with local educational institutions or training providers to offer relevant courses or workshops to your employees.
6
Create a supportive network
Facilitate networking opportunities for your employees by organising events or creating online platforms where they can connect with one another.
Building a supportive network can provide a sense of community during this challenging time and help employees navigate their career transition more effectively.
7
Retention incentives
If feasible, consider offering retention incentives to valuable employees to encourage them to stay until the business closure is complete. This can include retention bonuses or additional benefits.
By recognising their dedication and commitment, you can help alleviate some of the financial concerns they may face.
8
Provide outplacement services
Consider partnering with an outplacement service provider that can offer specialised support to employees during the transition process.
Outplacement services can provide personalised career coaching, CV writing assistance, interview training, and networking opportunities.
This professional support can significantly benefit your employees in finding new employment opportunities.
9
Maintain open lines of communication
Keep lines of communication open even after the closure.
Providing ongoing support, updates on job opportunities, or assistance with any remaining administrative tasks can help employees feel supported and valued during their transition.
10
Celebrate achievements and memories
Lastly, take the opportunity to celebrate the achievements and memories of the organisation.
Host a farewell gathering or create a memory book to commemorate the positive experiences and contributions of employees.
Celebrating the past can help employees find closure and move forward with a sense of appreciation and pride for their time with the company.
Supporting employees through a business closure requires compassion, empathy, and practical assistance. By implementing strategies employers can alleviate some of the challenges their employees may face during this uncertain time. By demonstrating a commitment to their wellbeing and future success, you can foster a positive professional relationship that will serve your employees well in their career transitions.
Next steps...
- If you have more questions on best practice during a business closure, check out our exclusive offer from Croner for UMi users to receive a 15% discount on their services.
- Find more HR advice and guidance in our People Management Bundle.