Small businesses—like health clubs—account for 99% of the companies in every U.S. community while employing over half of the private sector workforce. The truth is in the numbers; small businesses are vital parts of the economy.
Preparing for the worst scenarios can save you and your business time, money, and stress, among many other things. Most importantly, having a plan in place can save your business and keep it running during and after disasters.
Research by the Federal Emergency Management Agency (FEMA) indicates that 40% of businesses never reopen after a disaster, and 25% of businesses that do resume activity fail within a year.
Figuring out who the company can keep on staff without going under and what to do with the rest of your employees can be daunting, but sometimes it can't be avoided.
This product offers guidance through the complicated process of laying off staff.
In it, you will find the questions you need to ask yourself before you choose to lay off staff, including:
- Which employees should your company lay off?
- Have you considered alternatives to layoffs, and what are they?
- Do you understand Federal and State laws that apply?
- And more!