At various points in a company’s life cycle, an organizational restructuring will be necessary for growth, to accommodate a shift in company strategy, or to become more competitive.
• For example, in the case of a merger or acquisition, the company may restructure to focus on new lines of business
• Spin-off of one or more business lines, there will be restructuring implications for a range of front-line and support roles in the organisation
• Other kinds of restructuring strategies can include divestments, cost restructuring, or reorganization of the company’s legal structure
Our sample restructuring plan include the elements below to ensure all bases are covered.
- Restructuring Objective
- Projected Timeline
- Budget
- Communication Plan
- Key Contacts/Project Manager
- Key Measures Against Objectives
No matter the type of restructuring activity, there will be important implications for the company’s culture, processes, and employees. Usually it starts with:
- Frames the roles and accountabilities for teams within the company, including those that will overlap or experience a staff shortage
- Identifies key roles and the individuals required to fill them
- Pinpoints the talent shortages that will need to be addressed before the restructuring takes place
- Ensures teams are optimally aligned in the post-restructuring environment