In today’s business environment, restructuring may become necessary for various reasons—be it a change in ownership, market conditions, or operational efficiency. If your business is considering this path, it’s crucial to approach the process thoughtfully and fairly. Here’s a brief outline of the steps to take:

1. 1. Assess the Need for Restructuring: Understand the reasons behind the restructuring. Are there changes in market demand or internal processes that necessitate this action?
2. 2. Consult with Employees: Open communication is key. Engage with your employees early on to discuss potential changes, seek their input, and address concerns. This not only helps in gathering valuable insights but also fosters a sense of inclusion.
3. 3. Develop a Restructuring Plan: Outline the changes clearly. This plan should detail the roles affected, the reasons for these decisions, and the expected outcomes.
4. 4. Follow Fair Procedures: Ensure compliance with legal obligations, including conducting a fair consultation process. Employees must have the opportunity to understand the changes and respond.
5. 5. Consider Alternative Solutions: Before proceeding with redundancies, explore options such as redeployment, retraining, or voluntary exit packages. These alternatives can help retain talent and reduce the impact on staff morale.
6. 6. Communicate the Outcomes: Once decisions are made, communicate the outcomes transparently to all employees. Offer support services, such as counseling or career transition assistance, to those affected.
7. 7. Review and Reflect: After the process, take time to evaluate the restructuring’s effectiveness and gather feedback. This can provide insights for future changes and enhance organisational resilience.

Restructuring is never easy, but handling it with care can minimise disruption and maintain trust within your team. Remember, the goal is to ensure the business can thrive while treating employees with respect and fairness.

For more detailed guidance, check out the resources from Employment New Zealand: https://www.employment.govt.nz/fair-work-practices/restructuring-and-workplace-change/restructuring-when-a-business-is-sold-or-transferred and if you'd like to talk to Hello HR & Recruitment about how we can ensure you follow best practice guidelines during a restructure reach out to for a confidential conversation.