S01E10 - Restructuring: From Replacement to Renewal

Welcome to the Wild Side, a podcast that discusses the world of modern employee relations ten minutes at a time. In this episode, host Alan Wild discusses how the nature of restructuring is changing and how the restructuring tools we use today are increasingly unfit for their purpose. Alan is the Global Affairs Director of the HR Policy Association, the leading voice in chief human resources offices today.

The way we manage restructuring today is increasingly not fit for purpose. Traditional restructuring programs are not only expensive and morale-sapping they result in the separation of the wrong people at the wrong financial price. Voluntary separations tend to be welcomed by the people who believe they can land another job quickly and are less likely to be adopted by those the company needs to move on. Let’s examine how organizations can develop a new restructuring model that meets the needs of the business while creating opportunities for employees.

Key Takeaways: 

• The drivers of workforce restructuring have changed. [:52]
• Looking at traditional restructuring programs. [3:31]
• Why traditional restructuring is becoming harder and more expensive and why it is close to a breaking point. [5:00]
• Laws and practices of restructuring throughout the world are based on the antiquated job-for-life idea. [6:29]
• Why voluntary separation methods benefit skilled employees more than the organization. [8:47]
•  7 Tips for creating a modern restructuring program that shifts mindsets from survival to opportunity. [10:28]