Jill Edmondson’s Post

It is with a heavy heart when I read my LI feed and see all the posts from those that were impacted by the recent events at UKG. Yesterday, many talented and dedicated colleagues were laid off via email—a method that feels impersonal and deeply disrespectful to those who have given so much to the company. #UKG (ULTIMATE SOFTWARE) has long prided itself on its "people first" values, but this action has undermined those principles in a way that is both demoralizing and disheartening. To those affected, please know that your contributions were valued and that you deserve far better than this. My thoughts are with each of you as you navigate this challenging time. It is crucial for organizations to remember that their GREATEST asset is their PEOPLE. Decisions like this one have a profound impact on morale and trust, not only among those directly affected but also within the broader company community. Would it have been that hard to have a quick meeting and at least SPEAK to those employee’s affected and let them know from you and your words, Mr. Todd? I saw the email you sent. Maybe next time you’ll use chatGPT and ask it to make your message a little more empathetic. Let’s strive to build workplaces where every individual is respected and valued, especially in the toughest of times. #Leadership #WorkplaceCulture #Respect #Integrity #Peoplefirst #Hiring

Here come the layoffs... Several of my clients have been laid off recently. Not all can be blamed on the recent economy but most are because companies are cutting costs with less revenue to go around. Others are preparing for the sale of their company and slimming up their balance sheets. Thankfully, I've been working with these clients for awhile now and they were prepared for the unexpected. But it's still a bummer to have to rely on your savings to get you through until you can find another job. And then to work hard to replenish what you took. Are you ready for a change in your income? Whether you are an employee or business owner, you need a back up for the just in case. You don't think it will happen to you or that you don't need that buffer, but you will be so happy that you have it when you really need it. So that is why we work on building an emergency fund of 3-6-9 months of expenses. How much you need, depends on your situation. Do you have a dual income household, where both salaries are similar? Maybe just 3 months. Does one spouse make significantly more and you have littles running around the house? I would be more comfortable with 6 months. Are you business owners with very variable income and little in the house. 9 months of expenses would be nice for when the 💩 hits the fan. Not sure how what you need or how to build your savings? I can help you make a plan!

In 2007, my company was doing voluntary layoffs. At the time, I worked in Internal Audit at Equity Office Properties in downtown Chicago. I was still fairly young - around 27 years old or so. And at the time, I thought being voluntarily laid off was a FANTASTIC idea! *slaps head* I went ahead and asked to be let go from my position. I cashed out my stock. I took my severance pay. And I was off to start living my dream life as a full time real estate entrepreneur. Well, I crashed and burned for quite a few years and ultimately I tried to go and get another job. For the first time in my life, I couldn't get hired!!! I wish I had the words to explain the level of panic, frustration and fear that I felt during that time. It's a wonder all of my hair didn't fall out. I had gone about this transition process in all the wrong ways... Fast forward to today and I still see so many folks claiming that they want to quit their jobs and become a full time entrepreneur. For many, quitting their established jobs is often a terrible idea. The lack of cash flow isn't even the primary reason. There are so many hidden variables that have to be addressed during the transition from employee to entrepreneur. The mindset work requires a different level of dedication and commitment. The solution for the vast majority is to KEEP their jobs and learn how to leverage their position to acquire additional revenue streams. As an example, it's 100% possible to simply buy an existing business that is ALREADY cash flowing. This is truly the best of both worlds. If I had to do it all over again, I'd for sure look for ways to keep my stable 9 to 5 job, buy cash flowing assets and treat my day job as my own personal one woman brand within the larger business. Let me know what you think in the comments below.

<rant> I’m sitting in the airport right now next to 2 businessmen, listening to them talk about layoffs in a way that’s “fuck those people, at least it’s not us” in the most callous way imaginable. And what I know is that behind all that bullshit is one thing, and one thing only: FEAR. They think that taking this road will inoculate then from paying themselves, further on down the road...and I have a major revelation for both of them: EVERYBODY PAYS. And if you choose to be a callous, selfish person, you pay MORE. Look. That person next to you isn’t perfect. They’ve struggled and fought and been hurt beyond what they thought they could bear. More than you will ever know, most likely. But maybe they came through it with their sense of love and respect and kindness intact. Maybe they hold their head up anyway. Maybe they choose to believe in goodness and kindness, even though they haven’t had a whole lot of either. Even though they were afraid. And often still are. Just. Like. You. Friends, I don’t have a point to make here other than this: We’re all fighting the same fight, we’re all in the same war. We’re all shoulder to shoulder trying to figure out what the right thing to do is and what it all means. And sometimes we get it right and sometimes we don’t. But none of that is any excuse to treat one another as if our lives don’t matter. As if the sum total of our struggle could be summed up like numbers on a spreadsheet. You’re more than that. WE’RE more than that. Be kind. Period. OK? </rant>

<rant> I’m sitting in the airport right now next to 2 businessmen, listening to them talk about layoffs in a way that’s “fuck those people, at least it’s not us” in the most callous way imaginable. And what I know is that behind all that bullshit is one thing, and one thing only: FEAR. They think that taking this road will inoculate then from paying themselves, further on down the road...and I have a major revelation for both of them: EVERYBODY PAYS. And if you choose to be a callous, selfish person, you pay MORE. Look. That person next to you isn’t perfect. They’ve struggled and fought and been hurt beyond what they thought they could bear. More than you will ever know, most likely. But maybe they came through it with their sense of love and respect and kindness intact. Maybe they hold their head up anyway. Maybe they choose to believe in goodness and kindness, even though they haven’t had a whole lot of either. Even though they were afraid. And often still are. Just. Like. You. Friends, I don’t have a point to make here other than this: We’re all fighting the same fight, we’re all in the same war. We’re all shoulder to shoulder trying to figure out what the right thing to do is and what it all means. And sometimes we get it right and sometimes we don’t. But none of that is any excuse to treat one another as if our lives don’t matter. As if the sum total of our struggle could be summed up like numbers on a spreadsheet. You’re more than that. WE’RE more than that. Be kind. Period. OK? </rant>

It comes as no surprise that companies are committing mass layoffs in favor of more profitable outcomes. When money takes precedence over people, the company vision needs to be redefined. People are not numbers in the large scheme of things, and there are lives at stake. If companies have to inflict layoffs, the first thing that needs to be done is reevaluating the people at the top. Proper management of companies would have ensured that the livelihood of others would be handled. IF layoffs are the only option, it shouldn't be to line the pockets of the top executives. It should be to prevent the business from closing. That is all. IF layoffs must happen. There should be a relief program to help those that lost their job. If the employees were a good impact on the company, help them find another company they can help. Remember, people need to help people. Money will only blind you to the realities of life. CEOs shouldn't Cancel Employment Opportunities. They need to remember they are creators. Not destroyers.

A month ago, my car was T-boned while parked in front of my house at 7am. It was a chaotic scene as I bolted out of bed, half-dressed, and rushed outside along with most of the neighbors on my block. Thankfully, no one was hurt. But, everything following that morning has been a nightmare - dealing with opposing insurance has become a part-time job and it's led to a lot of frustration. I was left to deal with the aftermath of something that wasn’t my fault. It reminds me a lot of those who have experienced being laid off. Often, it comes as a complete surprise, a blindside. You devoted years to a place. You bought into the company mission. You invested in the company culture. A 15-minute meeting with HR pops up on your calendar. * Poof * you're shown the door. You didn’t make the decisions to over-hire. You didn’t make the poor decisions guiding the company strategy. Yet there you are, left to pick up the pieces. So much out of your control — frustration and self-doubt set in. It’s easy to make it about what you did wrong, but I promise you it’s not your fault. I’ve been there. I’ve navigated layoffs multiple times. If you’re currently in “no-mans land” or the land of layoffs, I’m so sorry this happened to you. You don’t have to navigate this alone. Lean on your support systems. I promise you, people want to help. And if you need it, I’d be honored to help you too. Shoot me a DM. I believe in you and I know you can make it through this.

During this year we found the most of companies made an agressive layoffs as a first solution to can controlling the cost but I think this is not the best starting to reduce the cost .You should first to know how your cost impacting in your profits to can find the specific channels that made the big impact in your cost before making the layoffs. So I think that we have one way to understand how distribution costs impact profits over time is to determine the cost-to-revenue ratio. It's important to collect and understand each cost component, and look at it over previous periods to understand the trend. Once you have the components and trend over time, you can begin to analyze the underlying cost drivers and adjust. Another use of this ratio is to look at market & industry benchmarks to determine where you rank. This can be elusive to obtain, but worth a look. There are many factors that may require a firm to have higher distribution costs, & not all products, markets, channels are the same, so there is a certain level of discernment required to interpret the inputs & take the right actions

It kinda makes my blood boil to see companies that had mass layoffs a few months ago posting new positions as well as positions that were previously eliminated. Don’t get me wrong, I understand that letting highly compensated employees go all at once before the end of the year is a great way to find a ton of money. I understand that employees who have been there over 20 years cost a lot from a benefits perspective, 401k matching perspective, accrued time off etc. I also understand that as a business you have a responsibility to the business to manage finances and profitability. While I understand all of these things I still don’t like it. The fact of the matter is that these reductions will continue but I pray that larger employers learn how to do it with respect and dignity especially for those long term, loyal folks that are impacted. If you are concerned about where you may land next or when you may be impacted by a reduction then feel free to reach out to me. Maybe a franchise is the right fit for you in 2024…it was the best decision I made in 2017!!!

Layoffs in logistics feel like they jumped. This week I've seen or heard of many more people losing their jobs than usual. Leaders pay attention! Now is not the time. "But we need to cut costs." "But the market hasn't recovered." You are setting your company up for trouble. Now is the time for training or cross-training. Now is the time to go against the tide. Now is the time to set your company up to grow. When the market turns (and it will) you'll need the same people you are letting go. You'll need them fast, only they won't be available. You'll need their experience. You'll need their willingness to learn and teach. You'll need the bench strength. You'll need their creativity. You cannot afford to be caught shorthanded. But far too many of you will! Wake up and set your company up to grow, become more efficient and go take market share. Cutting staff will do the opposite.