With the economy hurtling headfirst into a headwind, these are troublesome times for small businesses. From plunging trade exports to rising operating costs, government budgetary constraints and the pervasive bite of inflation; one thing is for sure – it seems our local business landscape is encountering a stern test.
These uncertain times call for innovative strategies and sometimes difficult decisions, particularly when it comes to workforce planning. If your business is feeling the strain, assessing your current team structure could be the answer to ensuring your business is well-equipped for what lies ahead.
Reshuffling your team
Shaking things up doesn't always mean downsizing. A reshuffle is about playing to your team’s strengths and reallocating resources to where they're needed most. This approach could mean redefining role responsibilities to streamline processes, or it could mean redistributing tasks to optimise performance (and potentially improve job satisfaction, too).
Exploring expansion
Current stresses and strains may mean you actually need additional hands on deck, not less. This is about considering what your growth areas are - does your team need new roles or additional members to tackle future challenges? It could also mean investing in your current workforce, providing training and development opportunities to better equip your team to support business growth and/or operational efficiency.
Scaling back
For businesses experiencing a downturn, restructuring presents an opportunity to create a more agile and efficient structure. While business dynamics understandably necessitate tough decisions, employers have a legal duty before embarking on (and during) a restructuring redundancy process to ensure measures taken are legally compliant, ethically above board, and done in good faith.
The goal should be to manage the process empathetically, offering support to those affected, and exploring all possible avenues to retain employment. A restructure should never be used as a workaround to address performance issues.
Whether adapting to tough financial landscapes or making strategic moves for your workforce, adjusting your team structure is about setting your business up for success. If you're unsure about the best steps for your team going forward, and need some support getting it right; contact the Grow HR team.