Barry Guryan Quoted in “The True Cost of Layoffs”Executive Insight February 2015
Barry A. Guryan, a Member of the Firm in the Health Care and Life Sciences and Labor and Employment practices, in the firm’s Boston office, was quoted in Executive Insight, in “The True Cost of Layoffs,” by Rebecca Mayer Knutsen.
Following is an excerpt:
Many organizations fail to consider how much layoffs will actually cost, explained Barry A. Guryan, an attorney with the healthcare and life sciences and labor and employment practices at Epstein Becker Green in Boston. “The costs incurred can include federal, state and local legal compliance obligations; severance pay; loss of morale; loss of skills and recruiting efforts once business improves,” he said. Guryan advises a financially troubled organization to identify its problem areas, then devise a solution to improve efficiency. In the process, identifying and retaining top-performing employees with the skills to deliver is key, he told Executive Insight. …
Guryan proposes asking employees to brainstorm ideas to improve expenditures and provide solutions for containing costs. “Employees know their organization well and can often provide valuable solutions,” Guryan said. Asking employees to participate in a predeterminedfurlough, subject to management approval, is another avenue to consider. “A surprising number of employees will volunteer for furloughs—without losing critical skills,” Guryan said. “Shorter work weeks are an option for certain employees, as long as the hospital pays particular attention to patient care.