6
Providing adequate information & support for own staff is a
precondition for successful restructuring
KEY ELEMENTS IN RESTRUCTURING
Clear and thorough planning of
the whole restructuring process is
the first step. It is crucial that firms
devote enough resources and
time for the planning phase.
Moreover, top management needs
to set a clear vision, strategy and
direction that needs to be
translated by middle managers
into appropriate behavior and
actions. A communication plan
plays a vital role in overcoming
uncertainty, resistance to change
and to induce employee
commitment.
Providing trainings – not only to
employees but also to middle
managers and employee
representatives before, during and
after restructuring is important to
help them to prepare for the new
situation.
AT A GLANCE
• Careful and detailed
preparation phase
01 02 03
Strategy &
Planning
• Detection of
problems/ risks as
early as possible and
putting in place
corrective actions if
needed
• Aiming to improve
employees’ general
employability (within or
outside the firm)
07
• Provision of adequate
support & assistance
to middle managers
Leadership
Key elements
of successful
restructuring
06
04
05
• Clear strategy to minimize
rumors & to promote trust
• Focus on remaining
employees to prevent loss
of talents/ key players
• Plan defines the “who,
what, when & how”
• Often through organizations
like trade union/ works
council
• Pivotal role in getting
employees on board
• Perceived fairness of process
(e.g. selection criteria for
redundancies)
Source: goetzpartners, ERM report 2018