Rightsizing: A pact between the two stakeholders
Here are key pointers for organizations to go through when downsizing key aspects organizations need to keep in mind and a few non-negotiable aspects
Rightsizing is a word that was hardly heard of, about 10 years back, atleast in India. However, today, it’s a process almost all large companies have undergone and most senior leaders have been touched upon by rightsizing, either as the recipient or as the sponsor, and thus there is a better appreciation for it. Rightsizing or retrenchment comes up a lot of times in any organization – more so in cases of organization design and workforce effectiveness, when organizations are trying to redefine their go-to market strategies in light of the changing business priorities, evaluating their staff productivity or recreating newer functions and roles. The organization’s perspective to Workforce Transition is usually the means to activating an important strategic need. Sometimes it is corrective in nature, sometimes towards reorganizing the current structure and business, and at times it is about divesting one and investing into a new line of business and thus mapping of skil...
Read full story