Moves you should make when your company is restructuring
By Rose Kwamboka
| July 14th 2019
Corporate restructuring can be motivated by the need to revamp the business model of a company. Restructuring can be reactionary for a specific period of time or proactively handled when the company needs to be reorganised to accommodate clients’ preferences and maintain a leading position in the industry.
The management can decide to outsource experts for different departments or retrench redundant employees for cost reduction. There are numerous uncertainties accompanying the restructuring period. So that you do not find yourself on the receiving end of a retrenchment, take a deep breath and follow these moves.
BEFORE THE RESTRUCTURING
1. Be informed
Gather information on the scope of the upcoming restructuring. Big companies would normally issue a press release that describes the extent of the upcoming retrenchment. Small companies however may view press releases as unwarranted and instead offer a more transparent mode of communication to its employees. Because of their size, small companies expose the top management to their employees more. As an employee, take advantage of face to face meetings to get information from managers who are forthcoming with explanations and find out how layoffs will be done and who has the deciding vote.
2. Ask yourself what you bring to the table
Keep track of your achievements by writing down your past accomplishments that have made an impact on the company’s success. To prove how valuable your input is to the company, compile your achievements in the most quantitative way possible. When the time comes that somehow you have to defend your stay, consider outlining how your skills and expertise may be useful in your department.
3. Connect with the a key decision maker
When it comes to making strategic decisions, being in the decision maker’s radar takes you a step higher than your peers. Making a noteworthy mark in top management is not easy, but once you find your way there, you might have found a way to save your job. You do not have to meet the CEO to discuss your impact in the company, but make other key leaders aware of your contributions.
DURING THE TRANSITION
4. Be real and keep communicating with your network
Sometimes, sitting around in your office, anxiously waiting to find out how the restructuring will affect your job will eventually get you stressed out. Be more realistic and update your resume, brush up your online portfolio and connect with your network to be able to tap into new opportunities when they present themselves. Trust your instincts when you feel like your current job is not worth fighting for. Keep an eye out for more exciting opportunities. If it happens that you survive the restructuring and get to keep your job, do not burn bridges with laid off colleagues. You will definitely feel sad when your friends have to go. You do not have to feel guilty that you got to keep yours, but take advantage of the resources the company offers to help employees through the transition period.
5. Do not allow space for abuse
With all the anxiety that accompanies re-organization, it becomes challenging to question unreasonable offers or kickbacks to keep your job. If you feel that you or your colleagues are being abused or treated unfairly, raise it up with your superiors. Be cautious to express your grievances in a way that is not offensive. Always show that you have the company’s best interests at heart in order to set in place a more humane transition environment.
6. Keep loved ones close
In the middle of all the mayhem at work, your loved ones can offer the much needed emotional support. Have time for family leisure activities to refresh your mind and for some time, turn off the office pressures.
ONCE THE DUST HAS SETTLED
7. Rebuild your confidence
If you remain employed, try to get over the stress that came with the restructuring period. You might be assigned new responsibilities and work pressures may double. If you have to take up additional roles with little or no compensation, readjust and acknowledge what is real for you. Discuss with your loved ones, and at the appropriate time, with your superiors and see their input and way forward without pretending that all is well. Connect with new colleagues afresh. It may not be wise to compare new colleagues with laid off co-workers in terms of how they relate or their way of doing business. Accept new colleagues and what they have to offer. Find the best way you can each contribute to the company’s success.
8. Embrace change
There is always a silver lining. Make the best out of the outcome of restructuring. Go the extra mile to orient new employees in the office as you keep the right attitude towards work. Let your redefined position be a step higher in your career path as you get closer to your long-term goals. Identify any gaps in your line of work and if you would require additional training to maximize productivity. If you are in charge of restructuring survivors, help them adapt to the new work environment, calm their concerns and welcome direct reports to give problem-solving that personal touch.
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