Buck Bond Group

Economic and business shifts may necessitate organizational changes

Do you need to make organizational changes
to contain costs or address shifting business priorities? If you are considering headcount reductions or furloughs, we understand the challenges you are facing.

You have decisions to make

As your business evolves and priorities shift, you may need to evaluate your workforce strategy and reduce employee headcount. We understand how difficult yet critical these decisions are for the future of your business and can help you model different scenarios to minimize the impact on your people.

While there is often a need to move fast, you also need to proceed thoughtfully so your organization and your people are ready for what comes next. Our experienced team can help you act quickly and confidently with solutions tailored to support every phase of the severance, transition, and outplacement process.

How we can help

Workforce strategy

We’ll share market data and insights on what other companies are doing, and model both the short- and longer-term financial implications of various workforce scenarios, including reductions-in-force. This information allows you to evaluate the impact of all contemplated changes so you can move forward with confidence.

Change management and communications

Good communication is critical when making workforce reductions. We can help you develop an integrated communications strategy to ensure consistency and clarity. We’ll also create general and personalized materials for active and terminated employees.

Severance savings

We specialize in the setup and administration of IRS-approved, tax-exempt Supplemental Unemployment Benefit (SUB) Plans. Establishing a plan allows you to save an average of 30% on severance costs and still provide equitable benefits at 100% of pre-displacement pay.

Separation support

We can handle the entire employee exit process, from the design and delivery of customized and personalized communications, to tracking and verifying returned forms. This can reduce the administrative burden on your team so they can focus other business priorities.

Employee information hub

Need to communicate fast? We’ll set up a web-based, mobile-friendly information hub to support employees and their families throughout the separation process and during the severance period. Tailored sites are ready in as little as three days and can incorporate video and text messaging functionality so you can communicate with your people more effectively.

Outplacement and support

To help impacted employees navigate their transition, manage paperwork, apply for unemployment benefits, and determine their most cost-effective benefit options, we offer white glove call center support. We can also provide career counseling to help employees through the transition.

COBRA benefit alternatives

COBRA is expensive but there are lower-cost medical plan alternatives that can significantly reduce your claims costs and provide employees who are leaving your company with more affordable options. Our turnkey solution provides employees with decision-making and enrollment support, helping to minimize costs for both you and your employees.

Resources

Prepare for increased unemployment benefit costs as part of your workforce strategy
 

Watch the replay

For additional insights on how your organization can create a workforce today that can take on tomorrow, check out our thinking.

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Webinar

Rethink your approach to workforce reductions using supplemental unemployment benefit plans

Read more : Rethink your approach to workforce reductions using supplemental unemployment benefit plans (opens in a new tab)

Case study

Navigating workforce reductions

Read more : Navigating workforce reductions

Blog

Cost savings through rewards and benefits

Read more : Cost savings through rewards and benefits

Resource page

As employers worldwide grapple with the COVID-19 pandemic, we’ve brought together our latest thinking on the topic.

Read more : As employers worldwide grapple with the COVID-19 pandemic, we’ve brought together our latest thinking on the topic.

Blog

A degree of healthcare cost certainty amidst the chaos

Read more : A degree of healthcare cost certainty amidst the chaos

Checklist

COVID-19 compliance check-in

Read more : COVID-19 compliance check-in

Webinar

Effective communication strategies for working through COVID-19

Watch the replay : Effective communication strategies for working through COVID-19 (opens in a new tab)