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.
A Specialist Recruiter is responsible for identifying and hiring candidates for roles requiring specific skills or technical ability.
Social Recruiting is the practice of finding candidates through the use of social platforms as talent databases or for advertising.
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