How Inflation is Affecting HR Teams

Have you thought about what might happen should a recession rear its head and how that could impact your team, your employer and especially your employees? While economists are not ready to say this will happen across all industries, there are clues that the effects of inflation are beginning to spread more broadly. Some industries are now seeing “Forced Resignation,” announcing plans to limit hiring or layoff portions of their workforce. While hopefully this does not continue, there are clues that the effects of inflation are beginning to spread.

A new resource is available that highlights steps you can take that may help prepare you for Economic Pressures and the Trickle Down Impact to HR. 

You will find information on factors in employment that may come into play in causing the labor changes in the marketplace, including:

• rising inflation

• employee salary requirements

• changing consumer spending habits

And whether your organization is in a high turnover industry, going through layoffs, or making changes due to a recent acquisition or organizational shift, offboarding processes are critical to your success. Learn more about how you can work to create a more efficient process, and make your employee separations as smooth as possible, by offboarding with C.A.R.E.

• Completing required separation paperwork, including state required separation forms when applicable

• Assigning internal tasks to help with a smooth transition

• Reputation management to help spread the word about positive aspects of your workplace

• Experiences for employees at each stage of their employment including resources you can provide to ease the transition

Offboarding can be more complex than it sounds - but if you are prepared for the unexpected, it doesn’t have to be. Now is the right time for your organization to revisit your current process and enhance processes and procedures around separation of employees. Download Economic Pressures and the Trickle Down Impact to HR today, or you can reach out to our subject matter experts to discover how you can minimize risk, gain more control and efficiency, and reduce delays in delivering information to your employees and the states with our Offboarding Forms Solution. 

The information provided is intended as general guidance and is not intended to convey any tax, benefits, or legal advice. For information pertaining to your company and its specific facts and needs, please consult your own tax advisor or legal counsel. Links to sources may be to third party sites. We have no control over and assume no responsibility for the content, privacy policies or practices of any third party sites or services.