Surviving Restructuring: Advice for the Survivors

So your company’s restructuring is over…and you survived it. You can take a deep breath and relax, right? Maybe. But maybe not.

Having been through more than my share of restructurings over a four-decade career, I know they can be a bellwether for future business challenges. The restructuring company is taking actions to prepare for a rough road ahead. Sometimes, those actions sufficiently position the business for future success or, at least, more stability. Other times, the moves are simply the first (or second) step to further restructurings.

As a veteran of more than 20 restructurings, I provided insights and recommendations for those directly impacted by business transitions in my column Surviving Restructuring: Advice for the Departed. While I’m no expert on how all of this works, I’ve been on the receiving end several times, and I’ve also sat on the other side of the desk, holding 100-plus reduction or redundancy discussions with my own people. Here’s some advice that may benefit the “survivors” of a business restructuring.

Make your “stay or go” decision…and make it soon. Every restructuring is different so, admittedly, I would be hard-pressed to provide concrete guidance on what might factor into this decision. But, if you’re not sure if you should stay, you probably already have your answer.  No one works well in an unstable environment, so if you are spending multiple days wondering when the next axe will fall then it’s time to look for a new landing spot.

There is a natural tendency to take a “wait and see” approach, and many do just that. From my experience, I’ve had far too many people tell me—after the fact—that they should have begun looking right away but instead had stayed on, hoping for the best.

Note that even if you do decide to start looking, you absolutely owe it to your current employer to continue to give every ounce of energy and expertise while you’re there. It’s not only the proper thing to do, it will reflect better on you when and if you do leave. One utility leader gave me a great sound bite on this topic when he said, “I don’t mind the people who quit and leave. I mind the ones who quit and stay.”

Be positive from day one. The first day back to work after a restructuring is always the toughest. After seeing colleagues pack up their belongings and depart, it’s hard not to be sad. Get over it quickly. Here’s your pep talk:

·        In most cases, they will be fine. While their road may be rough, they almost certainly will find another job. Pass along my last column, Surviving Restructuring: Advice for the Departed.

·        If you so choose, you can still see them outside of work. And you might even be able to help them land their next role. Need to know how to support them? Check out Supporting Job Seekers … Just Be There.

So when you return to work, do it with the same energy, passion and enthusiasm you’ve always had. People will pick up on your vibe; the more you convey positive energy, the better it will be for everyone.

Find your place in the new world. Once you’ve made the decision to stay, you owe it to yourself and your employer to get the new lay of the land. Make no mistake, the topography of a business changes significantly after a restructuring. Unfortunately, many tend to underestimate the changes that can and will take place.

Trust me, it’s not just business as usual with less people. It’s a whole new world—or at least you should see it that way. Roles will change. Processes will change. People will certainly change. You have to learn quickly what those changes are and how they will impact you.

Don’t be hesitant to ask your manager or your human resources representative about this directly. Obviously, you must make it clear that you are asking so you can better support the business, as opposed to only looking out for yourself. Also, make it clear you’re asking so you can be part of the solution as opposed to another problem during a difficult time.

A team member of mine who really should have known better told me after an unusually tough restructuring, “I guess I better start looking for a new job because I’m probably next.” As a leader, I can tell you that attitude does not help and almost certainly will result in your eventual departure, one way or another.

Be flexible and open to change. Those people who adapt the quickest to the new environment and are the most amenable to accepting the ensuing changes almost always do well. This is not the time to say “This is how we always did it before…” Make it clear you understand and appreciate change will be needed in the new world and that you’re open to and ready to do whatever’s needed to help the business succeed.

See change as an opportunity. When businesses restructure, opportunities often open up for personal and professional growth. Once you understand your place in the new world and have conveyed that you’re open to change, see what opportunities may be available to expand your role and influence in the business. If you see things that could be improved, speak up. If gaps suddenly appear that may have been overlooked when changes were made, volunteer to fill them. In short, step up!

These opportunities may not offer immediate pay raises or better job titles, but they do allow you to show what you can do—and that’s never a bad thing. More importantly, they reveal you to be someone who is keenly interested in making a difference as a valued team member.

Without a doubt, business restructurings are a terrible thing for the employees involved. But, like it or not, they are reality that will not change any time soon. So, recognizing the opportunities they can create and making sure you demonstrate the proper behaviors when they do occur can go a long way in keeping you a little more grounded, both personally and professionally.

This is the second in a three-part series focusing on the restructuring environment and how it affects employees and managers.