Change is the one constant in business today and for quite some time. When an organization is struggling and unable to grow, tough decisions have to be made, usually affecting the number of employees. A business’ biggest expense is the workforce, therefore, it is usually the first consideration for reducing expenses.
When managing a business transition emotions are often on the rise, and those can cause some poor judgement. The company’s top decision makers can find themselves with so much to examine and research that the key factors become blurred or some might fall between the cracks. With this in mind, it is one of the top reasons to hire experts in transitions, Compass Career Management Solutions. Even the best of executives has overlooked important factors that need to be included in their final decision.
The decision to reduce your workforce is tough enough, but developing an effective, sound transition process is CRUCIAL! Here are some of the major considerations:
- Calculate how much of a reduction of expenses is the minimum amount that MUST be met.
- Review how soon the adjustments would need to take place in order to salvage the business?
- Of the major expenses which would affect the business (products/services) the least, how much could be reduced without substantially affecting the quality? And
- List those areas/items that would need to be sacrificed.
- Once areas and factors that would be altered, how soon would this need to happen, and what, if any substitutions or changes would be noted by the customers?
There are many additional steps to take and arrangements to make that can keep the business in a healthy status. Key people need to take charge of preparing for various “transitional processes”. Still, hiring Transitional Experts will keep moral more stable, be a “support” to those employees taking some of the heat of this process, and can also help the company to avoid some legal entanglements. These experts (i.e. Compass Career Management Solutions) are experienced in the many sensitive issues involved with a business transition. One last comment is to be sure and allow sufficient time to manage this transition. Visit our website: www.compasscareer.com.