10 Tips to Assure Your Company’s Smooth Restructuring


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Uploaded on Dec 11, 2019

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Presentation on "10 Tips to Assure Your Company’s Smooth Restructuring"

Category Business

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10 Tips to Assure Your Company’s Smooth Restructuring

10 Tips to Assure Your Company’s Smooth Restructuring 1. Communication  You need to effectively communicate the plans for organizational restructure, by being open and honest about it. Workers need to understand the reason behind the restructure to avoid rumours being spread. santry360.com 2. Appoint team leaders  A strong leadership team consisting of senior employees, highly talented workers and experienced managers should be appointed to oversee the entire restructuring process, which includes planning, analysis and communication. istock.com 3. Plan ahead of time  To bring about change, it is necessary to plan ahead of time carefully. Analyze and think critically about the impact it will have in the short-term as well as in the long run. Map out timelines for implementation. portalcfo.com 4. Consult your employees  Talk to your employees. Ask them to share their thoughts and ideas as to how the restructuring should go on. They may be able to identify challenges which you may have overlooked. santry360.com 5. Long-term goals  When you restructure your company, keep in mind the long term goals, what you will achieve from this process and how you can avoid it in future. organimi.com 6. Support for managers  Managers play the important role of leading the restructuring process. If they feel uncertain about their future in the company, they are most likely to delay the entire process.  So keep briefing them to gain their trust and go ahead with the restructuring. employwise.com 7. Skill assessment  To understand the strengths and weaknesses of your workforce, prepare an assessment of employees with skill metrics and performance ratings. It will help to plan the restructuring process. lucidchart.com 8. Don’t let go of key people  Cutting costs is important, but don’t let go of key people in the company who are important for its future.  Decide who should stay rather than who has to leave based on assessments and interviews. leadingleadersinc.com 9. Role suitability analysis  While giving new roles to existing employees, do it based on not just their skills but also relationships, team dynamics and feedback from managers, so that the person is suitable enough for the position. plushr.com 10. Review  You may have to restructure the company again in future and it would be less difficult next time.  There will be many challenges, but carefully planning and implementing decisions will help in success and growth of your company. adp.com