COVID-19 IMPACT: IS DOWNSIZING THE NEED OF THE HOUR? IDENTIFYING YOUR BEST EMPLOYEES WHILE DOWNSIZING

Abstract

As Covid-19 has hit the economy very badly across the globe, revenues have fallen down and it has forced companies to start thinking about downsizing their workforce. The major problem a manager would face while downsizing is to choose which employee should stay rather than which employee should not. This situation arises when a saturation point is reached as a manager has already terminated his less performing employees and then still has to downsize.There comes the question of choosing between his best employees. How can a manager face this challenge and bring out the right output? Or can he make them all stay there? Can he reduce their salaries and keep them all in the lot? Will this affect them mentally and emotionally to bring down their morale? Should the manager right away terminate some so that the rest could draw the same paycheck? This paper discusses the answers to these questions from the literature.