We are operating in a business environment that is demanding more from our leaders than ever before. Executives need to be able to innovate, influence and pivot at an unprecedented rate all the while managing more significant risks, regulations and technological change.
While the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has now concluded, the revelations of decisions made and actions taken to pursue short term profit at the expense of honesty, remain front of mind.
Let’s face it; no one enjoys sitting an employee down and telling them they no longer have a place in the company because their position has been made redundant. Unplanned redundancy conversations can be hard and challenging, and you can encounter some pretty big emotions.
With a growing dependence on technology and a desire to become more effective and efficient, we are gaining time and profits but losing track of the moral obligation we have to our greatest assets - our people.
In the wake of restructuring and redundancies, your surviving team can frequently be left shaken and riddled with guilt.
As the planning stages of a new year commence, many management teams will be faced with the decision to restructure their organisation to better manage downturn or accelerate growth.