If you look back over the past five to seven years, how many times has your company gone through some type of reorganization or restructuring, whether large or small?
Restructuring usually comes with a displacement of employees through layoffs and early retirements.
You Face Three Tough Challenges When a reorganization or restructuring occurs, these statistics can be exacerbated by immediate pressure from three inevitable challenges: • Higher voluntary employee turnover: There’s often high uncertainty among employees about the future of the company.
There are five critical moves that your executive team, human resources leadership and organizational development staff must take in order to come out swimming on the other side of a restructuring: 1. Move quickly in making decisions and reseating your best talent.
They’re not only dealing with the operational dynamics but also an unsettled workforce who they need to inspire and retain. Align your talent needs with what will be required to revive growth.
Establish quick market intelligence (QMI) meetings for early input and rapid feedback. Senior leadership must allow for some risk-taking and resulting mistakes. Use the collaborative networks for a quick review of lessons learned so that the negative effects are minimized and opportunities exploited. What got you here will not get you where you need to go in the future. You need leaders who can lead through the short-term chaos and guide the organization in both redefining business and operational strategy and achieving aspirational results.There's a very real short-term operational risk of mistakes, missteps and stress on the company that could be detrimental not only in the short-term but also hard to recover from long-term.You are likely to experience further erosion of your employee base, operating revenue and margin.• Changing needs: You’ve got to rebuild your pipeline for the longer-term.Your needs will be different, in terms of both numbers and the type of talent you need to carry your organization into the future.There are five critical moves that your executive team, human resources leadership and organizational development staff must take in order to come out swimming on the other side of a restructuring: 1.Move on talent decisions. Move quickly in making decisions and reseating your best talent.So, you've got some organizational "soul-searching" to do.Five Critical Moves How do you address this dilemma?Candor and transparency are important in these communications. Provide a support structure. Create collaborative networks and support systems for the leaders placed into new roles.Make sure they are not isolated to figure things out on their own.