CORPORATE RESTRUCTURING: WHAT A BUSINESS NEEDS TO DO WHEN DOWNSIZING

Posted on: January 23rd, 2012 by
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By Bill Kaufmann, President of My Greener Future

Here are some key points to consider if you plan to downsize your employee base:

FOR YOUR BUSINESS:

Ease the pain for you and your employees as much as possible

Communicate the need to downsize in a compassionate way, with the right information

Assess your objectives:  Where do you need to be – Revenue increase/cost decrease

Prioritize the business needs over the next 3, 6, 9 and 12 months

Identify the key employees that will help you achieve your objectives

Communicate with the employees that are to stay

Consider some incentive for them to remain highly productive

FOR AFFECTED EMPLOYEES BEING DOWNSIZED:

Maintain the dignity of those being let go

Provide support assistance to those employees affected

Meet with affected employees on a group then individual basis

Provide them with the skills to land another position

Hire a professional to help you

Provide a way back for some, who may be needed later

Provide references & recommendations to help displaced employees

Help them understand their benefits and support agencies

How do you downsize employees with dignity?  How do you downsize in “the right way”. Like the famous saying goes, “Measure twice and cut once”.  When it comes to your downsizing strategy, think through the steps and implications then implement flawlessly.  Of course, a professional can help you make sure the actions you take are not going to cause you more problems later on.

Employees that have been separated from a company need to feel that they have been treated in a fair and positive way, even if the situation is not positive.  Companies that provide employees with the tools and skills to find another position are seen as caring for their welfare. It also leaves a positive attitude for those that remain. You will benefit in a number of ways when you develop a strategy of support for terminated employees by training them in the skills of finding another job.

Consider the end game:  Always develop your strategies by asking the question, “A year from now when we are up and running again, how do I want to look back at the way the business handled its downsized employees?”

My Greener Future – Business can provide the professional help you need.

Call now for a free consultation and we will explain how we can help – no obligation, just objective input!

Contact Bill Kaufmann, President, My Greener Future at 757-220-0774


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