Downsizing your workforce

Many companies across New Zealand and Australia have had to make to difficult decision to downsize their workforce amidst the current uncertainty. 

We all know if this is not handled with care it can cause major disruptions to your people and business. When making the decision to downsize you must assess every aspect of a person’s role, the implications that will have on your remaining workforce and how it will impact your long term continuity goals.

There are many options to explore before deciding to downsize your team. Speak to your employees and discuss the options of taking annual leave, taking leave without pay, reducing hours and days worked and giving them their options for government assistance.

For information on the Australian government’s financial assistance package click here. 

Or for New Zealand’s package click here. 

If the option to reduce hours or take leave isn’t available then you will need to prepare for some tough conversations with your team. With these basic steps, you can minimize the disruption and negative effects this may cause. Keep in mind the long term as these decisions will enable your business to come out the other side stronger than ever. 

• Be transparent and open.
• Have a vision and plan that everyone is working towards together, ask for feedback from the team to help build a culture of inclusivity.
• Ease fears by establishing new goals and responsibilities that are clearly outlined and easily accessible. 
• Focus on what’s important, remember your businesses core values. Try not to get overwhelmed by everything going on outside of this.
• Be empathetic! These are trying times however, we’re all in this together.