The exit is the final stage in a company or business’s lifecycle. A company usually decides on this solution for financial reasons: the business is unable to provide the required return on investment, in which case the freed-up resources should be reassigned to another business. Alternatively, the business in question is already loss-making, i.e. the owners are losing money and the issue cannot wait. At this stage, the owners either exit from the business completely, or restructure it. This could mean both regional consolidation and shutting down offices, as well as redundancies.

1. Selling a business

Selling a business is like any other acquisition. But this time, it is your company that is doing the selling. HR Plus can help your business as follows:

  • Getting your business ready for sale e.g. by gathering the necessary information on employees and clarifying the legal aspects in all countries
  • The Due Diligence process with potential buyer candidates
  • Contract negotiations, which take account of the employees’ perspective and the owners’ interests and risks, and the legal requirements that need to be considered.
  • Training and preparation of supervisors for the forthcoming process
  • Preparation and implementation of communications for all company employees
  • Uncoupling the business operation from the company’s other functions and transferring it to another company

If it is to be done well, the sale of a business requires a major time investment and experience in buying and selling businesses from the HR department. You should not try to sell a business alone, but alongside a suitable partner. Our company has experience of several divestments, which makes us your ideal partner.

2. Extensive layoffs

Every HR unit probably has skills in performing individual employee reductions. When redundancies affect several units or locations at once, their implementation requires project management skills, knowledge of labour laws and a major investment of time. HR Plus can help your business as follows:

  • Carefully planning of redundancies in advance. The goal should be clearly defined in terms of the schedule and numbers of redundancies
  • Expertise in the labour legislation and consultation processes in each country
  • Training and preparation of supervisors for the forthcoming process
  • Preparation and implementation of communications for all company employees
  • Harmonised planning and implementation of consultations in different locations and countries
  • Project-based management of redundancies from planning to implementation
  • Supporting employee mobility to other, internal roles
  • The creation of support models both for employees made redundant and those who stay

Employees who leave the company and those who remain will remember how laid-off employees were treated. When properly implemented, employee reductions can free a company to move forward. A good partner will help you to make these changes systematically, while achieving your goals and respecting people. Our company has experience of several employee reductions, which makes us the right partner for you.

3. Closure of sites

A special feature of redundancies is the shutdown of a local office. This could involve a factory or an R&D unit. The above principles also apply to branch closures, although the scale is different in such cases. The creation of support models, for example, becomes important.  Such a change requires a solid project team on which the HR department is represented. Our company has experience of factory closures and winding up R&D units.

4. Inspiring the remaining organisation

All these changes are difficult for an organisation and affect the entire staff. Some workers are directly affected by the change, while others are onlookers. No one is a complete outsider. A company can easily become completely paralysed, with commitment disappearing and the remaining part of the company being at risk. Employees who remain with the company are too often overlooked during such changes. HR Plus can help your company to restore commitment and strengthen the company culture among the remaining employees. This means actions such as the following:

  • Supporting employees and expediting the healing process, so that attention can be turned to the future
  • Clarification of the company’s future vision and communicating it to the remaining personnel
  • Training of managers
  • Local discussions in teams
  • Special engagement of the company’s talent

Although such changes are difficult for employees and the HR team, if successful they will create the opportunity to enter a new stage. Both people and businesses can complete such a process feeling empowered and renewed. A divested business can find a new future within a new company, laid-off workers can find a new road ahead, and the remaining employees can find a new focus and growth.

It is important that such changes are well executed. Choosing the right partner is the first step towards successful implementation. Get in touch with us to hear more.

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