Dr Simon Hayward, CEO of Cirrus and author of The Agile Leader, talks to Insider Engage about his thoughts on how leaders should approach restructuring and redundancy during a pandemic.
The impact of coronavirus has forced many leaders to think differently about how they operate, re-evaluate their business structure and consider redundancies in order to survive.
Restructuring within an organisation can often lead employees to feel concerned and fearful of losing their jobs, especially with unemployment rates escalating during the pandemic. Simon argues that keeping employees motivated during this period is critical to the success of a restructure.
“Most restructures fail to add a great deal of value largely because of people not feeling engaged with or committed to the process,” says Hayward, whose firm has worked with ReAssure, Standard Chartered and Allianz. “That is a leadership problem of not engaging people enough early on.”
Simon argues that the focus needs to be on three areas: clarity, meaning and connection.
“If leaders can give clarity about what is happening and why, that is key,” he says. “Employees also need to find meaning in this too. And connection is about empathy and understanding what change means to people, making them feel supported and listened to. These three things can lay a good foundation to an effective restructure.”
© Insider Engage
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