Are you considering restructuring your business?
Do your employees know?
You may think they don’t but don’t underestimate the efficiency of the staff rumour mill.
At a time when it is proving difficult to recruit key employees it is crucial in a restructure that you retain those employees that are going to be key to its success.
They will be essential to the business’ recovery going forward.
It is important to keep employees fully informed, and not relying on the rumour mill if you want them to put their energies into helping it survive.
Their opinions, feelings and concerns should be actively listened to. If they don’t know what is going on they are likely to be worrying about the future of their career and their jobs and more likely to be a flight risk.
Clarity will do a great deal to help employees to put their efforts into supporting the restructure to help assure their future.
Preparation and planning are vital for a smooth restructure. From the first phase, business leaders should ensure that employees are central to every decision made.
You have legal obligations too.
For contractual changes to be legal in a business that wants to change the contracts of more than 20 employees, a 45-day consultation period with staff must take place. This is also true if there are to be redundancies.
If you don’t comply it could add a delay to the restructuring proceedings.
Keeping your employees informed and engaged will go a long way towards ensuring a successful restructuring outcome and the future of the business.