Is retrenchment the only answer?

By IRISHA LUHANGA

A report released by Statistics SA in May 2020, found that one in three South African businesses are considering retrenchment to cope with the Covid-19 pandemic and the lockdown. The question that I have been asking my clients is, “Is retrenchment the only answer?” Be part of the solution, by equipping your people to have the confidence to drive their success in this challenging time.

Over the last few years, we helped re-skill staff affected with retrenchments with entrepreneurial skills. Retrenchment is a traumatic experience and anyone experiencing this trauma moves through a grief cycle consisting of various emotional phases, moving from denial to anger, then resistance, before finally concluding in a solution seeking and acceptance phase. The Redefine programme is designed to move individuals through this cycle as quickly as possible, enabling them to move forward towards ongoing success and sustainability. The programme is geared towards each individual’s needs, however, focuses strongly on individual engagement sessions, career and CV coaching, financial wellness coaching and entrepreneurial coaching.

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Its critical for organisations that are facing this difficult task of retrenching staff to at least provide their staff with skills and resources that would enable them to be self-sufficient, and if they are aware of looming retrenchments, start providing these skills as well as future skills needed. This programme teaches and takes the participates through the process, knowledge and skills required to create a new venture, the management skills and knowledge to manage the venture and culminates in the exploration of the knowledge and skills to grow the venture as an entrepreneur through the principles creativity and innovation. It further covers specially-selected subjects to give the entrepreneur the financial, accounting and commercial skills they will need to make their business a success.

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The programme is offered as Skills Programmes and companies can use Skills Development Spend or allocated SETA spend to invest in the growth of their impacted staff. This Skills Programme is conducted against registered Unit Standards of New Venture Creation Learnership, this means that on successful completion of the Skills Programme, the participants will obtain a formal recognition for the Unit Standard(s), in line with the courses undertaken. The accumulation of credit-bearing Skills Programmes may lead to or contribute towards a full qualification.

This training could be facilitated to those affected employees who have indicated that they would like to become entrepreneurs. These entrepreneurs could possibly become  suppliers to the companies where they were retrenched.

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