..


Business News

  • Written by Dr Jen Frahm


Today Telstra announced the plans to axe 8,000 jobs in a cost cutting exercise.

 

With one in four executive roles slated to go, such announcements mean that managers are expected to manage anxious and stressed teams at the same time as managing their own emotional reaction and concern for job security.

 

Dr Jen Frahm, a global expert in organisational change offers these tips on surviving such announcements and managing during the traumatic times of restructures and downsizing. 

 

  1. Build change capability within. This is unlikely your first restructure and is unlikely to be your last. What do you need to do to build internal capabilities for change?

  2. Engage with resistance – don’t seek to overcome. Resistance is normal, highly complex, and only feedback.

  3. Don’t forget to communicate what stays the same. People need an anchor in stormy seas, and a simple message of what is not changing can do that.

  4. Dignity is the key word – your role as people leader is to interrogate every message to ensure that there is as much dignity as possible. Respect yourself, respect your managers, respect your employees, respect your customers, respect your community.

  5. Ensure a united front. Now is the time that as a leadership team you need to unite and ensure a parallel process when releasing information and key messages. You do not want your employees hearing further information first on the radio /newspaper/ Twitter/ Facebook.

  6. Engage with the background talk. This is the informal conversations of change that can manifest in gossip, rumour, and hallway chats. Engaging with the rumours allows clarification of incorrect information and guided sense-making. You can also get some very useful feed- back. 

 

It's also important for managers to look after themselves to be able to look after others. This might mean: 

 

  1. Recognising your emotional state is completely valid – you need to lean into that, acknowledge and respect that. 

  2. Spend some time thinking broader than your current role. This might be the springboard to something bigger, better and different. You may be in a snakes and ladders situation – take a lesser role for three months to step up to a better role when the dust settles.

  3. If you are not comfortable with uncertainty, then now is the time for ego to take a back seat. Secure cashflow with whatever role is offered, and then work your way out of it when you have more control.

  4. Review your finances:

  • What are you fixed expenses, what are your variable expenses?

  • Career protection insurance?

  • Mortgage protection insurance?

  • Projected expenditure?

  • What can you shift, reduce, pre-pay?

  • Work out worst case scenario and then an armageddon case scenario. If you know what you will do in those cases then you have control of uncertainty.

  1. Talk to friends and family and get a sense of who can help in what way? 

  2. Tend to your network – update them with what is happening, and let them know how they can help you.

  3. Ask others how you can help them – focusing less on yourself, and more on others can shift the energy considerably.

 

 

Achieving the Perfect Balance of SEO and Creative Content is just a Few Steps Away

If you want an appropriate description of today’s online marketing world, in the search engine optimization kingdom, it may somewhat fit along the lines -- content is the king. Basically, it means tha...

Get Your Hands on The Perfect Shipping Container Today

A shipping container is such a blessing in disguise! It comes in handy for both temporary as well as long term storage, or say mobile offices, or even as temporary building options. They are extensive...

Is a flexible workforce the way of the future?

In short, “Yes,” says Joint Managing Director of Citrus Group, Paul Smith. By nature, working in a contact centre “isn’t the easiest job in the world,” says Paul. Allowing staff to work flexible hou...

Careers Campsite

‘Careers Campsite’ to bring over 100 job opportunities and career advice directly to Western Sydney youth tomorrow   Skillsroad, Australia’s number one destination for career advice and entry-leve...

United Co.: Leading young Australian entrepreneur building start up precinct

United Co., set in the heart of buzzing Fitzroy, is Melbourne’s newest business and innovation centre with collaborative work spaces and luxury offices which has been masterfully created out of the ...

Ben Bradshaw 2018 Brisbane Young Entrepreneur of the Year

Ben Bradshaw, the founder behind Fortitude Valley based Disrupt Digital, has taken out the top title of 2018 Brisbane Young Entrepreneur of the Year. Over 300 of the city’s top young professionals ...

Politics

Scott Morrison - Breaking Ground on Western Sydney Airport

Construction on Western Sydney Airport will begin today – boosting jobs, creating much-needed infrastructure and strengthening the economy.   Prime Minister Scott Morrison said the Western Sydney ...

Scott Morrison - More choice for Australian families

Australian families will have choice and equity in education as the Morrison Government guarantees funding to the non-government school sector. The Australian Government has accepted all the recom...

Dutton - Labor/Green witch-hunt comes up empty

Despite Labor’s best efforts in hyping up the so-called “au pair” Senate inquiry, the farcical and shambolic witch-hunt has come up with nothing except findings that mirror the Labor Party’s initial...

Travel

Holiday Hacks: How to beat the travel companies at their own game

HACK YOUR WAY TO A CHEAPER HOLIDAY How to beat the travel companies at their own game and save money during the next school holidays   19 September 2018: As any parent who’s tried to book a holid...

Experience European Glamour with Ecruising

In May 2019, Ecruising is inviting travellers on an exciting itinerary that includes not one, but two, quintessential French Riviera events – the high-octane Monaco Grand Prix and the iconic Canne...

Factors to Consider When Buying a Campervan

You’ve been waiting to buy a Winnebago campervan and now it’s your chance. You’ve saved up and you’re ready to start living the road trip lifestyle. You’re in for a great time and adventure. Of cour...

You might also like