RiseSmart, an outplacement company and provider of contemporary career transition services, has published a white paper that discusses the rise of an "employee relationship economy" in the new age.

Called "The Employee Relationship Economy: Boomeranging and Frequent New Beginnings Propel a Shift in Human Capital Management," the white paper seeks to inform readers about the reality behind employee-employer relationships.

The publication encourages HR professionals to view the relationship between an employer and employee in a new perspective and advises HR to handle workforce reductions and layoffs as a new beginning, instead of an end in itself.

"We see an employee relationship economy on the rise due to changes driven by technology, an evolving workforce, and globalization," RiseSmart President and General Manager Dan Davenport said. "These are all fueling a paradigm shift in how talent is moving into, within, and out of an organization. As a result, business outcomes are increasingly dependent on a company's ability to achieve high levels of employee engagement, loyalty and trust."

The report adds that layoffs still remain a necessity even in the face of a strong economy. It also emphasizes the importance of restructuring the workforce and provides useful strategies for HR leaders and professionals.