As we approach Rachel Reeves’ first budget in October, prime minister Keir Starmer has been preparing us for a bumpy ride since the height of summer. The vibrant, picturesque backdrop of the Downing Street rose garden was contradicted heavily by the downbeat tone of his speech. Talk of the need for “accepting short-term pain for long-term good” hinted at a challenging period for people and organisations alike.
However, removing politics and personal views from the analogy, organisations like yours can learn a lot from the changing of the guard at Number 10. In this article, we share some insight into how these lessons can help your organisation navigate key workforce challenges that may lie ahead.
Change is difficult but necessary
Adjusting to change is a common challenge in any modern business’ journey to sustained success. Much like the political measures that are expected to be put in place, the reason for the change may be out of your control. You may need to make difficult decisions in search of a resolution, and things could get worse before they can get better.
The ability to thrive through turbulent times can often depend on how you and your people react to change. Changes made based on what is best for your organisation can lead to a need for restructuring, redundancies, changing entities, TUPE transfers, mergers or acquisitions, all of which can impact your people. During times like these, you need to understand your businesses aspirations and unique needs to be able to deliver the best outcome.
If your change means an unfortunate short-term reduction in headcount, offering outplacement support to your people during redundancy can not only help your leavers find their next opportunity more easily, quickly and confidently, but provide reassurance to remaining employees and help maintain their productivity, providing stability when you, and they, need it most.
The importance of preparing for growth
A common mistake many businesses make is that they focus so much on not sinking in the storm that they forget to plan for when the clouds eventually part. Peter Mandelson told Westminster Hour that the government needed to “show what the sacrifice is about”, communicate why hardship is necessary, and outline what it’s all in aid of.
This is the logic that organisations like yours need to consider; communicating why you have made certain tough decisions, and how it will contribute to future prosperity, can give people light at the end of the tunnel, encouraging them to wait out times of hardship and providing much needed stability on the path back to growth.
Key areas to consider include:
Talent acquisition and retention
It may be difficult to think about workforce planning if you are in a period of restructuring and letting people go, but it’s times like these where it’s crucial to retain the talent you need to push through difficult change periods. As above, by explaining the rationale behind the restructure and how it will contribute to future growth, you can reduce the risk of people you need to retain leaving your organisation.
Organisational growth can also heavily depend on your ability to attract new talent once you’re able to do so. Thinking about your talent acquisition strategy, even when you’re not actively recruiting, will help you implement your refined recruitment process and attract the best talent when the time comes.
People development
Investing in your people isn’t just a nice to have, it’s a strategic imperative which, if done well, can have a significant impact on your entire organisation. Even when there’s no budget available, there are ways you can develop your people; it can actually be more impactful for your people to see you prioritising their development when times are tough.
NFP people and talent solutions: maximising your most important asset
With over 30 years’ experience and a range of comprehensive people and talent solutions, NFP helps organisations and people thrive both day-to-day and through challenging periods, from joiners to leavers and everyone in between. If you haven’t heard of us yet, we’d love an opportunity to prove why many organisations of all sizes value our services so highly.
Our people and talent team can support you with:
Talent acquisition solutions: optimising your recruitment process, reducing your time-to-hire to fill key vacancies quickly, and lowering recruitment costs
People development: empowering your people, leaders, and teams to perform at their best
People solutions (HR): supporting you with flexible outsourced people expertise
Organisational change: helping your business and people thrive through change
Career transition: supporting your people through critical milestones and moments that matter
Outplacement services: empowering your leavers to take the right next steps
Visit our website or email peopleandtalent@nfp.co.uk to see how we can help you.
