Change and transformation can often strike fear in the workplace. They are often perceived as being code for something else, such as downsizing. However, change is an inevitable part of running a business.
To grow and expand, changes need implementing to reach the next goal. For a company to remain ahead of the competition, they need to adapt and evolve to stay productive and meet their strategic objectives.
For the company, this change often means the reshaping of the current workforce. It helps them to support the firm’s growing needs by creating new roles as the business develops.
One aspect of this change is retaining talent, skills and knowledge current employees possess. During these changes, employers will want to ensure that their employees can adapt to the company during its transformation stages.
Making employees redundant is not just a difficult decision to make, it can also be an expensive one too. It is reported that to make one person redundant, the average cost is around £16,375. Before considering paying out these expensive costs along with losing the skills and knowledge of talented team members, look into alternative routes that are available that could be more beneficial.
One of the most popular routes many more businesses are beginning to take is redeployment. Whilst redeployment can help to save money, it can also protect the company brand during uncertain times. It will also help with assisting in retaining key talent and maintaining morale, which will ensure that productivity does not suffer. Instead, it creates a highly skilled workforce who are ready to adapt to any future changes that may occur.
The Benefits It Provides
Redeployment is an excellent alternative to redundancies. However, the common issue faced is that most companies do not possess the internal resources needed to implement such a complex strategy. Since numerous benefits come with implementing a redeployment strategy into the business, it is worth evaluating if it will be a good investment for your company.
- Helps Talent Retention – Redeployment is an excellent talent retention strategy that any business can use. Ensuring that there are routes available to alternative roles for employees, employers are increasing their chances of being able to retain the talent they want in their company. In recent years, there has been a rise in employees changing jobs more frequently than ever before. The term ‘job-hopping’ has been used to describe this new trend. In light of this trend, companies are working tirelessly to decrease their turnover and increase their talent retention.
- Boosts Corporate Brand – Those going through the process of redundancy will understandably feel some level of resentment towards their employer. Whilst it will only be temporary, it is natural given the circumstance. A disgruntled ex-employee could potentially be harmful to a brand, especially when leaving reviews on websites such as Glassdoor. As such, supporting employees exiting the company is key. Fortunately, there are specialist outplacement solutions for this. This results in the reduced risk of potential harm to the company’s brand.
- Improves Relationships – Many employees look for companies that offer a great benefits package. One employee benefit that some employees now expect from their employers is career transition support, such as outplacement or career development. With a redeployment strategy in place, it shows employees how willing their employers is to support them throughout their entire employment journey, not just a part of it. Having this support allows employees to feel more secure throughout their employment with the company. It also sees them increase their productivity levels, as well as their loyalty and retention.
- Lower Costs – Any company going through change or restructuring their workforce will know that it is normal that some areas of the business will decrease in size, whilst others will increase. In turn, there are also efforts to both increase and decrease the workforce to reflect the change. As these changes occur, the Human Resources team will be handling, and paying for, any redundancies as well as the hiring of new staff. It is imperative to have a solid strategy in place before changes commence. This is because there will be many times in which an organisation will be managing change to their workforce. Having already adopted a redeployment strategy will reduce the need to pay out for redundancy packages. In addition to this, it will also reduce the need for having large hiring costs since you are transitioning talent from within.
How To Integrate It Into Your Company
Redeployment will help employers to retain top talent at their business. It will also protect a company’s brand image and create a positive work culture that their employees enjoy working at. Not all companies have the internal resources to implement a redeployment strategy. That is why many firms collaborate with outplacement providers to help assist or implement career solutions that are becoming increasingly popular.
Many outplacement firms will offer an array of services, such as rapid redeployment advice to employers. Companies like Randstad RiseSmart can provide employers with rapid redeployment strategies that will help them to deliver breakthrough results. Having this level of support will help to ensure that you are successful with implementing redeployment into your business.
To take full advantage it is best to invest time and resources in supporting employees during periods of change. Any transitions can be an unsettling experience, as there are elements of uncertainty.
When roles are at risk, it often leads to low self-confidence in employees. Many will not see or understand how their skills and knowledge can translate into a new role. It is a challenging process and needs to be handled sensitively. Additionally, it should be viewed more as a collaborative effort between the company and the employee. Not just a process of transferring skills from one area to another without much of a second thought.
Show Support To Employees
Throughout the process, employees need to be and feel supported during this period of change. Having this support will encourage them to fully engage in this unique process. When moving forward, one way to retain the key skills employees have is by helping them to understand their skills, values and what their options are.
A well thought out redeployment strategy will support employees from the outset, reducing the shock impact that hearing the news your role is no longer required can cause. It also mitigates any potential risk of losing key talent as change is announced.
Strategic redeployment is a powerful tool for any business. It can be beneficial for a highly trained, loyal, and motivated workforce in their different roles. When properly executed, it will provide a company with a competitive edge within a dynamic and ever-changing business environment, especially one that necessitates regular restructuring.
Having a successful company culture is the key to productivity and working towards a cohesive company vision. With redeployment strategies in place, it will help to foster a fluid and adaptable workforce. To create a positive and enthusiastic culture, all it needs is developing, reskilling and providing employees with alternative opportunities. Ultimately, having a productive and energised workforce that feels safe and appreciated in a company, will clearly be shown in the results and successful completion of tasks by employees.