5 SIGNS THAT RESTRUCTURING ISN’T RIGHT FOR YOU


Virudhagirie1111

Uploaded on Mar 18, 2021

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5 SIGNS THAT RESTRUCTURING ISN’T RIGHT FOR YOU

5 SIGNS THAT RESTRUCTURING ISN’T RIGHT FOR YOU Why do you need to restructure ● Reason why corporates consider restructuring is to eliminate financial obstacles plaguing the business. ● Any restructuring exercise can bring the desired results only when business owners understand the fundamental problems faced by the company. ● In other words, if you should restructure is just as important as how you should implement the restructuring. Unhappy employees ● If your employees are unhappy, you will find it difficult to retain existing talent and attract new talent to join the workforce. ● Restructuring can further impact the morale of your employees and make them unhappier. They can find themselves completely lost, without knowing how the reporting structure works or what work they should prioritize. ● There are several reasons why your employees may be unhappy -- focus on fixing those issues instead of restructuring the business. You want to eliminate functional silos ● Always aim towards eliminating functional silos to reduce duplication of efforts. ● Too many silos within the company hinders the free flow of communication. ● Restructuring in such situations doesn’t encourage better collaboration within the team. ● Encourage departments to operate cross-functionally. Someone is pushing for restructuring ● A new CEO took over the reins and wants to undertake a restructuring exercise. ● Very often, new executives treat restructuring as an experiment to drive growth in the company. ● This results in nothing more than shifting a few functions within the organizational chart, causing more harm than good. ● It is usually done to assert authority and the consequences are mostly disastrous . ● The absence of cross-functional integration or lack of decentralized functions cannot be simply fixed with restructuring. Performance isn’t as good as expected ● Carrying out restructuring for a company that is not performing well is as good as fixing a band-aid on a bullet wound. ● Instead of devoting significant resources towards restructuring, focus on increasing cross-functionality within the organization. Is it the second time? ● If you have already tried restructuring before and did not achieve satisfactory results, you won’t gain much by restructuring your business again. ● Instead, you need to identify the core issues that need fixing and work out an effective plan to eliminate those Read more on if or not restructuring is the way forwar d for you and your company THANK YOU