Human Resource Is the Most Important Asset of an Organization
Managing through uncertain times is a corporate fact of life. But recent events have widened the zone of uncertainty, as companies try to adapt to a shifting geopolitical agenda, continuing economic ambivalence and changing consumer preferences. Many companies are developing transitional business strategies to weather this volatile environment, by raising capital, restructuring, or consolidating or realigning their work force to remain competitive.
Throughout any transition process, all stakeholders must be communicated to in a coherent, integrated manner so they understand how the change will impact them. Customers, employees, investors and suppliers will not wait patiently on the sidelines while a company embarks on fundamental change.
Corporate restructuring that involves the closing of facilities and significant layoffs, for example, impacts a variety of stakeholders. In addition to dealing compassionately with employees and negotiating with their unions, companies need to tell their story to investors, manage government or community issues, and reassure customers, suppliers and business partners.
Often, the stakeholder most overlooked during times of intense change is the most important asset a company has to help weather uncertainty - its employees. How well they are communicated to can help get their buy-in into management´s change strategy early on and ultimately, help to more effectively implement the change itself.
Employee communications are vital at all times but uncertainty can create confusion about the strategic direction of the company and a lack of understanding as to why the company must make changes. This underscores the need for open and honest two-way communication between management and employees. In today´s competitive environment, management needs the support and productivity of its entire employee group, not a workforce that is concerned about their job security or the future of the company.
As a company prepares to undergo
Throughout any transition process, all stakeholders must be communicated to in a coherent, integrated manner so they understand how the change will impact them. Customers, employees, investors and suppliers will not wait patiently on the sidelines while a company embarks on fundamental change.
Corporate restructuring that involves the closing of facilities and significant layoffs, for example, impacts a variety of stakeholders. In addition to dealing compassionately with employees and negotiating with their unions, companies need to tell their story to investors, manage government or community issues, and reassure customers, suppliers and business partners.
Often, the stakeholder most overlooked during times of intense change is the most important asset a company has to help weather uncertainty - its employees. How well they are communicated to can help get their buy-in into management´s change strategy early on and ultimately, help to more effectively implement the change itself.
Employee communications are vital at all times but uncertainty can create confusion about the strategic direction of the company and a lack of understanding as to why the company must make changes. This underscores the need for open and honest two-way communication between management and employees. In today´s competitive environment, management needs the support and productivity of its entire employee group, not a workforce that is concerned about their job security or the future of the company.
As a company prepares to undergo