1. Having attended couple of seminars on the subject topic, I think we need to understand the problems in correct perspective and on bigger canvas.
2. I think, main threats are as follows:-
(a) Laid off educated and well qualified but unemployed people will become restless and resort to crimes to get money. Because of reasonable intelligence level, these crimes will be well planned and executed with precision, making it difficult for the police to catch. They will therefore be threats to you, your family and assets.
(b) Because of stiff competition to out do each other, to save one's job, friends will become competitor thus eroding the team values. Each will try to take credit for success and blame others for failure besides other unwarranted & unethical tricks.
(c) To save their jobs, people are working like mad thus risking their health, family life, mental & emotional well being. This tension will soon burn them out and telling effect will be visible on everything.
(d) Families and children are living in fear & tension. Parents are more worried than the employees themselves. Happiness and laughter is loosing its shine in public places. What a transformation of society in such a little time of just about six months. It is doomed because of fear of unknown and uncertain future.
3. Possible options and solutions, one can suggest are:-
(a) Share the poverty too, reduce profit margins, adopt austerity in every thing, reduce pays but do not lay off people unless closing down a set up all together. In that case too, help employees re-settle, keep track and maintain contacts with ex-employee for emotional support at least. It will prevent development of forced criminals and make society safer.
(b) Maintain a balance in work place, stop overtime for physically, medically and emotionally healthier employees and society.
(c) Prevent panic, organize family get together, enhance the team spirits, assure them that we shall stand together in tough time and will soon over come the problems for a even brighter future.
(d) Talk facts and use common sense to find practical & viable solutions and for God's sake, stop discussing bookish knowledge and theories. Show the door to the people who are good in only speaking English and power point presentations. Get the practical men to work.
4. Now, I would only request the HR Heads to not only initiate above processes but also spend time to understand the possible scenarios in six months, one year and two years from now; plan for the contingencies and possible options to retain or recruit new employees in those time frames as per the contingencies/ options; plan where to find them, track them now, initiate contacts and follow them. That is how you may hope to get the best and just in time.
5. Being a HR & placement consultant, it is little difficult to gauge the true problem of individual companies and hence views expressed are generic in nature on common problems as visualized. Each company or set up has to find solutions to their set of problem within this frame work. Remember, it is easy to plan but very difficult to execute; it is difficult to win the trust back specially from the people who are under fear or suffered a set back. One has to implement such programs as team, be persistent and patient, to succeed.
6. God willing, we shall prevail.