Realigning a business is a must if someone wants to expand their business over time. The realignment needs to be adaptive to the new technology with the evolving market instruments. From time to time you must realign the business model to avoid stagnation and underperformance. Realignment is a successful instrument to ladder up in the capital market. But in the same way, it can be disastrous if the leadership quivers and a proper follow-up is not present at all times.
With the new ways come the new obstacles. The leadership must be hand in hand prepared with the employee to tackle these hurdles. Proper communication and chain of command must be omnipresent in the model. The leaders must evolve their goals according to the realignment. Many entrepreneurs obsess over rapid growth and profit. But they must remember this is a long-term game. Achieving an exponential amount of success is always preferred to a short duration rapid growth.
Steps of realignment
As Fred Auzenne opines, there are a few checkboxes while realigning your staff. Here they are:
- Review Your Company's Org Chart- Review organization charts. Understand the current hierarchy of the staff. You should be careful before you change a structure or function.
- Review Job Descriptions- Knowing everyone’s duties are important when you are planning to realign your staff.
- List employee skills- Make a list of every employee’s primary, secondary and tertiary skills.
- Assess gaps and needs- Get an assessment of your current gaps and need to optimize your business.
- Talk to Department Heads- This is one of the most crucial steps. Department heads know the capacity and ability of the department staff. Get hold of department goals relating to organizational goals. You can also understand a staff’s cross-functional workability through this. It is important when you are realigning your employees.
- Get Employee Feedback- This is another important step. Employee feedback helps you to understand your lacking points. You will get to know about individual contributions and roles through this.
- Assure job security- Assuring your employees and staff's well-being is important to get 100% dedication. Realignment shouldn’t seem like a punishment or demotion to any staff.
- Develop strategies to fill gaps- Analyze your organization’s current and future needs and develop strategies to meet them. Work on the gaps and try to reach the highest potential through realignment.
- Share Goals with the Team- Your team should be aware of your vision of the company. Only then they can fulfill their new responsibilities.
Conclusion
You should always remember that realignment needs decentralization of work. Outsourcing and decentralization are the massive pillars a business grows upon. That is why employees and leaders should always have a formal amicable atmosphere. Communication should never dry in the middle. The leader should have the ability to face the new challenges and adapt to the situations, for medium-size businesses, where realignment values are dependent on mergers and acquisitions, connecting a new arm to the existing model.
Source: Business Diary Philippines
0 Comments