With the Covid pandemic in full swing, the downsizing of businesses was a common thing to see. In the majority of cases, downsizing is used as a means to save the company while doing the least harm. This also means firing some of your employees, which is never an easy thing to do. They all have bills, plans, and dreams to save for. But for you as the leader of a business, it should be your priority to keep it floating. Downsizing often means that you need to move to a smaller office space, and you should do it with some moving helpers Orange County. In this guide, we will show you how you can downsize your business strategically and cause the least harm on the way.
How to downsize your business strategically?
When you want to downsize your business strategically, you can’t just go and fire people. Apart from everything, they should be treated with respect. The most important thing you need to do before you hire some commercial movers Orange County is to inform your employees. They should know what’s going on, as soon as it happens. To do this right, you should:
- Focus on departments separately
- Use dynamic selection
- Offer early retirement plans
Focus on departments separately
When trying to downsize your business, you should focus on each department separately before you hire some packing services Orange County CA. You should downsize depending on the demand drop. You might have 50 people in the sales team, but now that there is less demand, a job cutting of even 30% might be needed. Once you finish analyzing a certain department, move on to another one. You should start with the biggest departments first, slowly building your way to the ones with fewer people.
Use dynamic selection
A more advanced approach is to make a list of criteria and score each employed person according to that. In the end, you will be left with people who can best keep your business working in a dynamic and uncertain environment. Some of the criteria that you might use are:
- Recent performance
- Unique skills
- Management skills
The main thing to keep in mind is to communicate these evaluation standards on time. This way you will keep the process transparent and encourage trust.
Offer early retirement plans
In many businesses, senior people are part of the team. These people have worked their whole lifetime, and have a ton of experience. Their value of experience is unmeasurable in some scenarios. But if they have only a few years left until retirement, maybe it’s time to offer an early retirement plan. Think about it this way, is you might have a young person with no experience but with a great desire to excel and learn new things. In a time of crisis, you should give that young person a chance to prove themselves, and give your senior employees a well-deserved break.
Conclusion on how to downsize your business strategically
Same as when moving with some local movers CA, you should start to downsize your business strategically on time. If you are not in a rush, you will think clearly and make good decisions. The right decisions will help keep your business going in times of change. We wish you good luck!