Waikato Business News August/September 2023

12 HR MANAGEMENT & RECRUITMENT WAIKATO BUSINESS NEWS, AUGUST/SEPTEMBER 2023
WAIKATO BUSINESS NEWS, AUGUST/SEPTEMBER 2023
Navigating restructures
and outplacement in a
changing economy
In today’s ever-changing economic landscape, employers
often find themselves in the challenging position of
having to restructure their businesses to stay competitive
and adapt to market shifts.
While these changes
are often necessary
for survival
and growth, they can also
be emotionally taxing for
employees and business
owners. Managing restructures
and outplacement effectively
is not only a legal and
ethical responsibility but also
crucial for preserving a positive
company culture and
reputation. Here are our tips
for managing change with
good faith in mind:
Transparent
Communication:
Open and honest communication
is key. Employers
should clearly communicate
the reasons behind
the restructure, its potential
impact on employees, and the
company’s commitment to
supporting affected individuals
throughout the process.
Upfront Planning:
Careful planning is essential.
Employers should outline
their goals and the desired
outcomes of the restructure,
identifying which roles will be
affected and how they intend
to fill the gaps.
Support and Training:
Invest in training and
upskilling programmes to help
employees adapt to new roles
or acquire new skills. This
not only benefits the employ-
ees but also ensures the company
has a more versatile and
skilled workforce.
Outplacement Services:
Providing outplacement
services, such as career
counselling, resume building,
and job search assistance,
demonstrates a commitment
to the well-being of
outgoing employees and helps
them transition into new roles
smoothly.
Legal Compliance:
Ensure your restructure complies
with all NZ Employment
Laws. It is critical to follow
a robust process and not
to pre-determine any potential
outcomes. Seek advice if
you’re considering changing
your business model.
Employee Wellbeing:
Monitor the emotional wellbeing
of your employees. Offer
counselling/coaching services
or access to support networks
to help them cope with the
stress of change.
Maintaining Company
Culture:
Protect your company’s
culture by fostering a sense
of unity among remaining
employees and emphasizing
the company’s values and mission.
Feedback and Evaluation:
Continuously gather feedback
from employees and
assess the effectiveness of
the restructure. Make adjustments
as needed to improve
the process.
In a changing economy,
adaptability is the key to survival.
Employers who manage
restructures and outplacement
with empathy,
transparency, and a commitment
to employee well-being
will not only navigate these
challenges successfully but
also emerge with a stronger,
more resilient business poised
for future growth.
If you need support during
a change process or outplacement
services for your employees,
contact 0800 EVEREST.
PEOPLE AND
CULTURE
BY SENGA ALLEN
Managing Director,
Everest People.
Specialising in workplace advice,
recruitment, training and
coaching.
www.everestpeople.co.nz