Restructures

Restructures

It doesn’t matter if you are a large business or start-up business, every company will need to manage and navigate change!

Often you can plan for change, but sometimes companies need to react to change for the greater good of the business and its longer term survival. This is usually where companies decide a restructure is needed as the business takes a new direction or path. If this is not managed with expertise and effective planning it can break a business beyond the point of recovery. In todays modern world, have a think how many larger and well-known businesses have folded as they couldn’t adapt to changing conditions in their market. Most attempt a restructure of sorts and this is where experienced HR advice and experts need to develop restructure strategies to get a company from where they currently are, to where they need to be.

What does it take to create an effective restructure strategy?

The most common thing that is among effective restructures is a really strong strategy. This needs to be across many departments but one of the biggest areas (especially if you are downsizing) is the HR department. How will you manage your team? Are you going to have redundancies? What plans will you have in place? How can you fairly justify or determine who stays or who goes? Or better still, do you know the laws that you need to abide by during a restructure?

It will undoubtably be a stressful and tense time within your organisation whilst restructure occurs. Often, to many it can even come as surprise or shock depending on the circumstances. But you must be able to handle the restructure of your company with fairness, vision and strategy – being sure that you can justify every decision the business makes. If you fail to do this correctly, this could have drastic consequences to your business.

What does a good vision or plan look like?

The role during a restructure is generally linked to reducing overspends or costs within your business to improve cashflow or balance the company resources. Just about every resource will be looked at with precise detail to ensure everything is done to prevent redundancies. Having a sound business case for even just 1x employee redundancy is a requirement and that is where HR can help and advise you along the way. A strong HR advisor / HR consultant will steer your company in the right direction minimising the casualties along the way whilst keeping you compliant with current polices, procedures and regulations. OptHR have years of experience in this field and we can assist your business during the difficult transitional period you face.

How will you manage an effective team and maintain productivity during this transitional time?

Morale will take a hit as fear and uncertainty come with this process. Its within our human nature to dislike change – especially if it will effect our lifestyles, income or personal situations. Your team is going to come across performance issues and motivational barriers as you announce changes, but there are ways to minimise the impacts a restructure can cause. OptHR can advise on how to effectively manage your team during this period. We offer HR advice on communications between your company and its employees, with advice on announcements and consultation processes, along with how to communicate with employees who aren’t directly affected by the changes you are making. We consider the how and when to release communications with your teams and what to expect as consequences for the actions. These are just a few of the areas we work with your business to effectively manage negativity and motivation during a restructure

When it comes to restructuring, effective planning and implementation, we will deliver the best outcome fro your company. Its no secret that restructuring generally results in redundancies and cost cutting exercises, but its about managing to minimise these impacts whilst working towards the overall vision for post restructure. OptHR are ideally skilled in this area with vast experience in how to manage restructures.

If you are planning a restructure and need advice to create the best strategy you can. Call us or contact us and we can discuss your business in more detail.

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Opt HR is a very professionally run, proactive and highly qualified HR consultancy and I would highly recommend Rachel to anyone needing HR services and/or coaching for themselves and their business. She excels in everything she does and adds real value to her clients!

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