While economic challenges can force a company to restructure, other personal decisions outside of what the economy is saying can also make a company to undergo significant change. Restructuring can take different forms; from laying off, downsizing, mergers and acquisitions and other business steps or decisions a company may deem necessary for transformation.
Basically, due to the need to improve efficiency and cut costs, a company can decide to implement restructuring within the organization. Because restructuring affects employees who are the real assets of a company, there is always a need for post-restructuring in order to find ways to improve more significantly as an organisation.
Over again, the expertise of human resources professionals has helped businesses recover following a restructuring or layoff of employees. The expertise displayed through HR strategies assists organisations in rebuilding and recovery.
Post-Restructuring HR Strategies
Let’s take a look at those strategies that human resources based on their professionalism implement in helping companies to rebuild and recover.
Effective Communication
Human resources in their capacity ensure that communication is not only present in the organisation and amongst employees; they also ensure that the communication is effective. In cases where communication is lacking or distorted, there is room for misunderstanding between the employees and the company which is not good for performance.
Communication without feedback is incomplete. This is why it is essential that the communication that is put in place is such that accommodates feedback to the source of the message. Importantly, when aiming for restructuring after downsizing, layoff, or mergers and acqusition, it is important that the communication set up is inclusive, driving inclusion in the workplace.
Talent Management
Talent management in post-restructuring not only see to how talents are attracted and developed, it also sees to how talents are retained. This task which is overseen by the human resources department ensures that the employees are valued and are made to feel valued and part of the company. Talent management will determine how satisfied employees are with their jobs and the level of the expectations that is realized or achieved.
Employee Engagement
Employee engagement can involve a series of activities that keep employees satisfied with their jobs. Now, organisations are beginning to realise the impact of wellness programs on their employees. In addition to other forms of compensation such as bonuses, enjoying a work-life balance is crucial for keeping employees on the job and at high performance.
For instance, OBS Communications has carried out restructuring of its workforce in order to cut costs and increase profit for the company. After six months of restructuring, the company decides to implement HR strategies for rebuilding and recovery. Then it decides to use performance management, employee engagement, effective feedback, training and development and other key HR strategies. Within months of /doing this, the company’s profit doubled from the year before, leaving room for growth and job satisfaction for employees.
