people
POSITIVE STEPS 74
Deciding to change
Restructuring can be trying but this doesn’t mean change can’t be positive, says Lyndsey Simpson
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ne of my favourite quotes comes from Gordon Forward: “To stand still is to fall behind.” This is very true in our world where businesses should be a constantly evolving facet, growing and developing with the market and with you as its leader. However, by facilitating business change, inevitably you will have to make some tough decisions that affect, arguably, the most important part of your business – your people. Restructures are commonplace nowadays. However, if managed incorrectly your company can be not only left with a bad reputation but with serious legal implications. For this reason, this month I’m going to focus on how you can elicit positive change with positive outcomes.
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Employees are the foundations upon which companies are built. Certainly within my organisation, our team are brand ambassadors, representing us with every conversation. Therefore, change that is going to affect them and disrupt their pattern of performance should not be taken lightly. Redundancies are sometimes required if roles completely disappear within your structure but as a smaller, more agile company, sometimes it’s not the role that needs to go but the person within it. Maybe you have outgrown their skillset, or they have not been able to adapt to your growing business at the rate you need them to. In this instance, agreeing to part company – by way of a settlement agreement – is often a far better solution for all parties than a drawn-out redundancy and consultation process.
Mitigating your risks
Business restructures aren’t just difficult for employees but employers too. Whilst the impact that a restructure can have on an individual is often more obvious, the effect this has on a business is quickly forgotten. The exiting, or ‘adjusting’, of employees and their roles from a business can have serious legal implications if done incorrectly. If you are not strong on this topic, seek help. Many industry associations or business groups such as the Institute of Directors give free legal advice as part of their membership. Make sure you use these to run your specific circumstances past a professional who can make sure you are taking the right approach. Time spent planning any restructure or change that impacts people will always pay back ten-fold.
27/02/2015 19:34