Company Restructuring

Restructuring of the company usually sounds like the company is in a bad shape but more often than not, it means the opposite. It highlights that the company is aware and detected deficiency and hence decided on making the change. While most of the time it was done to reduce expenses, it can also be due to the change in company direction, clients need have evolved and other reasons.

Spotting the trend

Reduce your load and burden, be asset light. This allows for swift implementation of processes and flexibility in the ever changing world. Instead of renting a fixed space for your office or warehouse, explore flexible work space. This reduces your monthly rental obligations as well as improves your cashflow as you do not need to spend too much on renovation and equipping the office. It also allows you to move around from place to place easily as the commitment is lesser.

Embrace Technology

There are many ways to track the performance and work of your employees no matter where they are. Using platform such as Bitrix24, Monday.com, they allow you to monitor the work and at the same time improves communication between the different counterparts. This then allows you to hire the right people across different city, states or even country because certain job scope can be done without needing you to be physically present at the office.

Seek Opinion

Consulting the expert is important, however, it is also very important to communicate the need for change to the employees and seek their opinion as well. You will be surprise some bright ideas can be developed from their feedbacks. At the end of the day, they will be the ones affected the most and you will want them to accept this change and strive with the company. Make them feel that they contributed and have a stake in this restructuring and it will reward you much more than you can imagine.

Set, Move, Adjust, Repeat

Once decided, move on to the implementation. Be on the lookout for feedbacks and ways to improve the structure and adjust accordingly. It will take time for the people to adapt to this change and it will be an ongoing process. Implement the changes in phases and repeat this fine tuning.

Work-Life Balance

Work-life balance has increasing become an important factor among workers when looking out for a job. This is partially due to the dominating presence of millennials in the workforce. While remuneration, benefits and career progression are still important, work-life balance cannot be overlooked.

Employers have been putting in a tremendous effort trying to determine the best way to appeal to millennial workers. With the millennial generation of workers projected to take up 75% of the workforce by 2025 , many leaders think it’s time to redefine what work-life balance looks like.

Millennials and Work-Life Balance

Many employers add an element of fun to their office space by having cozy meeting space, or even go an extra mile to add games and entertainment room. However, many millennials report that they don’t care for these types of perks. Instead, they are more interested in finding a career path that will support their “lifestyle”, which in this context means their life outside of work.

While many thought that making the workplace more fun is what the millennials are looking for, but what they really want is a place that is productive. Millennials do not appreciate staying in the office from 9-5pm just because they have to and adding fun and entertainment space to the office do not help much.

For an employer, promoting work-life balance can seem a daunting challenge. How can a company promote a healthy lifestyle, both physically and emotionally, without sacrificing employee productivity?

Creating a Flexible and Happy Work Environment for All

While employers can look to studies about what work-life balance means to millennials to gain some insight, it’s important to remember that work-life balance will always mean something a little different to everyone. This is where flexibility and workplace happiness comes into play.

Creating a flexible work environment is one of the best ways to satisfy the work-life balance needs of most employees. A flexible work environment has been shown to decrease stress, boost levels of job satisfaction and help employees maintain healthier habits. Employers should offer flexible work hours, the ability to work from home and unlimited PTO to create a more flexible work environment that appeals across generations of workers.

It’s important for employers to realize that work-life balance is about more than just hours. Besides promoting flexibility, employers should also strive to improve the overall workplace experience for their employees. Prioritizing a healthy culture and cultivating a happy workplace environment promotes work-life balance. When employees are happy in their roles, work will feel more like a second home, and less like working for a paycheck. Employers should prioritize competitive compensation, comfortable office conditions, opportunities for professional growth and opportunities for social connections .

Productivity Beyond Hours

Attitudes on work-life balance will continue to evolve with cultural, generational and economic changes. Flexible leaders can update or reinvent their workplace culture to try something new if employees report poor work-life balance. While maximizing employee productivity will always remain a constant goal, ensuring employees have the time they desire away from the office and enjoy their time spent in the office is the best way to retain talented employees and make them lifers, regardless of perceived generational differences.