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80% of all transformations fail to achieve set goals – due to
an unstructured process and inadequate communications
EXECUTIVE SUMMARY
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85% of top executives believe that communication
is a key success factor in restructuring projects;
>70% think that proactive communications is of
high importance within restructuring programs.
However, in most workforce transformation
programs, communication is not prioritized – thus
often having fatal consequences: Poorly managed
programs show an increased likelihood of bad
press, temporary injunctions, rumors, loss of
talents and customers, strikes and sales decline.
Large-scale restructuring can have significant
negative impacts on a firm’s workforce, e.g.
increased negative health symptoms, increased
number of absence days as well as higher stress
levels of employees are reported.
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A CAREFULLY PREPARED
RESTRUCTURING PROCESS
COMBINED WITH A FAIR AND
TRANSPARENT PROCESS OF
DISMISSAL SELECTION, TIMELY,
Especially the way how the headcount reduction
OPEN, program is AND announced HONEST and communicated is
crucial. That’s why having a clear and
COMMUNICATION, AS WELL AS
PROVISION one of the most important OF TRAINING factors and a FOR great
challenge.
THOSE REMAINING ARE KEY
comprehensive communication strategy in place is
SUCCESS FACTORS.
Looking after the remaining employees and
providing them with adequate support to help
them during the difficult transformation time is a
precondition for successful restructuring. It is very
often the case that firms neglect this group that’s
why they often resign, and talent is lost!
QUICK SCAN
Does your firm have a clear
and comprehensive
communication plan in place?
Did you inform all relevant
stakeholders?
Do all executives/managers
know to say what, when,
how, and to whom and do
they speak with “one voice”?
Did you organize all necessary
town hall meetings (or
business unit/ departmental
meetings) and did you
prepare a Q&A?
Does your company offer
adequate training and
support for employees,
middle managers and
employee representatives?
Perception beats performance – that’s why communication needs to be
properly planned and prepared and do not forget: a strong focus on
remaining employees (incl. key players) is of high importance!
If you cannot check all five
boxes without reservation,
please contact our
experienced professionals
Source: goetzpartners
AUTHORS:
Dr. Gunnar Binnewies, Principal
Julia Knorsch, Manager