“Restructuring” has become a term synonymous with negative events in the world of staffing and employment. After all, restructuring strategies are usually accompanied by efforts to cut payroll cost, streamline teams and eliminate labor redundancies, all of which often leave employees out in the cold if their jobs are the ones in the line of fire.
But restructuring has an upside, of course. After all, leaner and more efficient companies are more stable and sustainable. And if you can manage to take advantage of resignations, retirements and thoughtful expansion plans, you can keep your workplace streamlined before the need for layoffs comes into the equation. Here are a few ways to keep your eyes open to restructuring opportunities before you need to let existing employees go.
1. Before you hire, think of the future. How does the position you’ve just created fit into your company’s long term growth strategy? What will become of this position and how might this set of responsibilities evolve over the next five and ten years? Answer these questions before you start accepting resumes and interviewing applicants, and as you do so, ask questions that measure the alignment between their plans and yours.
2. Consider modern work methods and how they might influence your potential positions. Flex time, working from home, and outsourcing are rapidly changing the way works gets done in our society. Be careful you aren’t hiring for a position that can easily be shared by two existing employees on flexible schedules. And by the same token, don’t hire for a position that will become irrelevant as soon as you can find a way to put a flexible arrangement into effect.
3. Don’t disregard potential financial disruptions that are right around the corner. If part of your long term strategy involves pursuing mergers, selling the business, acquisitions, or partnerships with other companies, consider the impact these potential moves will have on your need for staff. And think ahead—don’t hire for positions that will become redundant as soon as a pending merger takes place.
4. Consider the future of your business model. What competitive pressures will you be facing in the years ahead, both from within your business and from other industries and outside events? Consider the talents you’ll need on board as these pressures rise and shift.
For more on how to handle—or better, anticipate—the staffing challenges that come with large company and industry changes, reach out to the staffing experts at PSU.