Company Closure Crisis: How Should Employees Navigate Job Hunting and References?

Dear All,

The company is closed down due to some financial crisis. What should the employees working at the company do when they plan for a new job? Whose reference should be given in this case? Can anyone suggest on this problem?

Warm Regards,
Ananda

Dear Ananda,

The company is closed, but people are still present. You can provide the name of your ex-department head or anyone else whom you trust more.

Regards,
J.S. Malik

This is a very unwelcome situation where employees of the company are asked to leave the organization due to crises faced by the organization. This is quite justifiable from a professional point of view, but what about the human aspect?

There are companies that take care of their employees like their own children and provide proper guidance and infrastructure so that they can find employment elsewhere. I would request all the members of this group to please come forward and try to help the people who are in such situations.

Also, as an HR professional, if your company faces a crisis that results in the loss of employees' jobs, please give them full support to help them find employment elsewhere.

Dear Ananda,

I think when the company closes down and asks the employees to leave, explaining the situation, it will give relieving letters to all the affected employees. You can give the reference of the same person who is signing on the relieving letter and your manager's name as well. You can provide the board number of the company, and that should suffice.

I completely agree with Manasvi that companies should help the employees in getting new jobs or at least arrange for interviews.

Hi,

This situation is very sensitive, and many organizations use the following techniques when they have to part ways with employees, whether it's due to shut down, merger, downsizing, etc.

1) Counselling - It's not a sudden parting. Employees are prepared to face the situation, and I believe the HR manager's role involves not only operational but also softer and technical aspects like counselling. Proper intervention skills are necessary to address such situations.

2) Career Guidance Cell - Many companies establish career guidance cells that help employees not only map out various options but also assist them in finding new placements.

3) Compensation - Many industries offer compensation for a specific period to employees, allowing them time to find new jobs and support themselves and their families during times of crisis.

Dhananjay Bhandari Student Master of Human Resource Management M.S. University - Baroda

Dear All,

As we are all discussing the troubles faced by employees whose company has shut down its operations. In recent times, many well-known companies have closed, leaving more than 3000-4000 people unemployed overnight. I believe that we, as HR professionals, should step forward to assist these employees.

As HR professionals, if any qualified and experienced employees are seeking help, whether it be for a job or otherwise, they should share their CV on citehr. Many members, like myself, are ready to offer assistance.

Thanks,
Resh