Employer: Preventing Layoffs
Is it possible to prevent a business closing or mass layoff? Sometimes it is, especially if the company is aware of early warning signs and is receptive to exploring options that may help. While intervention may not save all jobs, it may save some and may help to prevent future layoffs. See a list of common warning signs that often precede business closings and layoffs.
While taking action is not a one size fits all type of thing, there is scheme that is generally followed:
STEP 1: Examine internal business operations and external forces that affect business operations.
STEP 2: Identify problem areas.
STEP 3: Develop and implement solutions, such as:
- making a change in leadership
- engaging in financial restructuring
- modernizing / upgrading equipment or software
- converting to new products and/or markets
- expanding skills of the existing workforce
- improving recruitment and retention of talent
- transferring of ownership
Know Your Resources
The links from this page go external websites. These links should be viewed as informational resources and not as recommendations.
- Wisconsin Economic Development Corporation (WEDC) is the state’s lead economic development organization which provides a range of services and programs to help elevate Wisconsin’s economy. Assistance may include state tax incentives, financing, and guidance on a wide variety of business activities. WEDC Regional Account Managers will help connect you with resources, including your local economic development and partner organizations.
- County and Local Economic Development Organizations are committed to working with businesses
within their city or county. One way you may locate the local economic development organization(s) in your area is
by contacting the appropriate
WEDC regional account manager.
For more information, visit the Wisconsin Economic Development Corporation's website or call 608-210-6700.
Wisconsin Department of Revenue offers a range of tax incentives for businesses. To learn more visit their website.
Wisconsin Department of Workforce Development and the job center network offer a wide range of services, including assistance with connecting your company to skilled workers. To learn more visit JobCenterOfWisconsin.com.
Wisconsin’s WORKnet is the state’s workforce and labor market information system. It is the place for employers to access economic data needed for day-to-day operations and planning. From wage comparisons to identifying business opportunities and concerns, labor market information is foundational. To learn more visit WORKnet.
The Wisconsin Manufacturing Extension Partnership (WMEP) is part of a network of more than 400 not-for-profit centers nationwide, affiliated with the Department of Commerce’s National Institute of Standards and Technology (NIST). According to its website, the WMEP works with small to mid-sized Wisconsin manufacturers “by providing expert assistance in the areas of growth and innovation, continuous improvement, training, export assistance, supply chain management and profitable sustainability.”
For more information, visit the Wisconsin Manufacturing Extension Partnership's website or call 1-877-800-2085.
The Trade Adjustment Assistance for Firms Program is a federal program that provides financial assistance to employers affected by import competition. This program helps businesses by contributing towards the costs of consultants or industry-specific experts for projects that improve an employer’s competitiveness. Project areas include:
For more information, visit the Trade Adjustment Assistance for Firms Program's website; their Regional website or call 1-800-333-2148 (Regional office).
Employee Stock Ownership Plan (ESOP) is a type of employee benefit plan that buys and holds company stock for the benefit of a broad group of employees. ESOPs are an attractive form of capital financing for multiple reasons, including tax advantages and employees’ increased commitment to the long-term success of their companies. The National Center for Employee Ownership (NCEO) is a private nonprofit membership and research organization that, according to its website, “serves as the leading source of accurate, unbiased information on employee stock ownership plans.” Information about the Wisconsin Chapter of the ESOP Association can be found on its website.
Wisconsin Small Business Development Center (SBDC) is a network of twelve service centers and three specialty centers located at four-year University of Wisconsin campuses. According to its website, the centers annually serve over 1,800 counseling clients and train more than 9,000 existing and aspiring entrepreneurs in order to support the creation and growth of Wisconsin small businesses. For more information, visit http://www.wisconsinsbdc.org or call 608-263-0398.
U.S. Small Business Administration (SBA) provides access to business financing, entrepreneurial development, government contracting, and advocacy. For more information, visit http://www.sba.gov/ or call 1-800-827-5722 (National Office) / 608-441-5263 (District Office).
University of Wisconsin—Extension’s Division of Entrepreneurship & Economic Development (DEED) supports Wisconsin’s businesses and entrepreneurs by connecting them with a wide variety of resources and relevant research. According to its website, DEED helps entrepreneurs create new businesses and grow existing businesses by providing training; information about financial, technology and other resources; one-on-one business counseling; and networking opportunities. For more information, visit their website.
SCORE Association, a partner of the U.S. Small Business Administration, is a nonprofit association dedicated to educating entrepreneurs and helping small businesses start, grow, and succeed. SCORE provides confidential business counseling at no charge, local and online workshops and events, and tools to assist entrepreneurs. To learn more and to connect to a SCORE Chapter near you visit, http://www.score.org/.
U.S. Department of Agriculture (USDA) Rural Development provides support to rural communities and enhances quality of life for rural residents in part by providing job training and business development opportunities as well as technical support and tools. To learn more visit, http://www.rurdev.usda.gov/Business.html.