Yesterday, Nation Media Group released a public announcement saying that it was shutting down its two radio stations and merging its two TV stations. You can read about all that HERE. Consequently, there are bound to be repercussions. Let’s examine some of the bad things that might happen to the company after the layoff.
Emerging Talent Might Think Twice Before Joining
For the next few years, it might be hard for NMG to attract the best talents in not only the journalism industry but also sales and technology. A layoff demolishes the aura of a company as it spells out loud and clear that there is some shortage in funds and no job security. No one wants to join an unstable company where they might lose their job at any moment. As a result of the latest development, talented peeps will prefer making applications elsewhere. This might affect NMG in the long term especially due to the fact that media competition gets intense each and every day
Distrust towards Management
Nation Media’s latest layoff has come out of the blue. This is bound to create a sense of distrust from employees toward top management because this might have happened when the workers were all made to believe the company was in good health. The majority of employees might feel like leadership didn’t do enough to put the company in a good position or to manage costs well enough to avoid such a dire situation as the current one. Employees who also felt that they were important might start looking over their shoulders.
Existing Talent Might Flee
Those who have survived the cut might still not feel safe. That’s right. Retained employees know that the company is in trouble so they might think in the lines of “It happened to my friend so it can happen to me.” As a result, these people will begin looking for other opportunities elsewhere. Everyone wants a working environment where they feel safe and valued, not endangered. In worst case scenarios, some companies have seen mass migrations to competitors after laying off some of their workers. Nation Media group should pray and hope that this doesn’t happen.
Morale Will Be Low
Employee layoffs in general lowers the morale of all the employees especially those whose close friends and acquaintances have been shown the door. The diminishing morale in the workplace after layoffs can significantly diminish post-layoff production. Employees may feel briefly happy to retain their own jobs, but the emotional toll of losing close colleagues and fears about the potential for more layoffs creates an atmosphere that is not so upbeat. The numerous employees forced to take on work of lost colleagues may also feel overwhelmed by expanded job roles. The quality of work which is delivered by these burdened employees deteriorates and they are unable to come up with exceptional ideas and thoughts.
The Public Might begin Viewing The Brand Differently
The loyal listener of Nation FM, whose favorite presenter has just been fired might not feel the same way about the brand as a whole. It will be hard to convince such a fan that BNG doesn’t suck. The public as a whole will just view the brand differently. It’s simply human nature. When you thought nothing was cool then you read all these bad things about it, your perception will change. You will feel cheated.
Nevertheless, NMG might still survive and come out strong. They are not the first company to pull this move. Hopefully, things will work out well for them.