Viridian HR

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All articles about restructure

How to Restructure Your Business with Confidence and Compassion

January 14, 2021

An intensely challenging year that was characterised by uncertainty and chaos, waving goodbye to 2020 felt like a huge relief for many people.

Yet as we all know, the economic fallout is far from over. According to a recent People Management article, there were more than 800,000 UK job losses since the start of the pandemic, as companies of all shapes and sizes struggled to stay afloat.

The good news is that with an extension of the job retention scheme, not to mention the promise of a Covid vaccination schedule, there is hope on the horizon for 2021.

However, last summer ACAS reported that redundancy-related calls had "shot up by 160%" from 2019. Further restructuring – and redundancies – will be unavoidable for many organisations as the year unfolds, creating a landscape of further insecurity.

Amidst such heightened anxiety about the job market and our general wellbeing, the way organisations choose to approach and implement their restructuring plans matters more now than ever before.

Here are some tips on how to carry out the process with both confidence, and much-needed compassion.

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