Recruitment glossary
What is Downsizing?
Downsizing, often referred to as a layoff, is the process of reducing the size of an organisation’s workforce by terminating a certain percentage of its employee base. Organisations may utilize downsizing to help cut costs and remain competitive and efficient. Employees asked to exit are often compensated with a severance package of a fixed amount or a few months salary. The after effects of downsizing can be extremely negative, as remaining employees may fear themselves to be in a similar situation at a later time.
Related terms
Turnover refers to the percentage of workers who leave an organisation and are replaced by new employees. Measuring employee turnover …
Superannuation is an organisational pension program created by a company for the benefit of its employees.
Social Recruiting is the practice of finding candidates through the use of social platforms as talent databases or for advertising.
A Specialist Recruiter is responsible for identifying and hiring candidates for roles requiring specific skills or technical ability.
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