Restructuring efforts are never easy, but they are often necessary in order for organizations to remain competitive in today’s marketplaces. “Why are we doing restructuring exactly like we did in 2008?” asked Steve Hunt, chief expert for work technology at SAP and author of bestselling book, “Talent Tectonics.” He and I were talking about talent trends, and this topic came up.
We both felt frustrated with how outdated the process of restructuring seemed in light of advancements in technology. Clearly, something needed to be done — we needed to challenge the way it has been done and share ideas that could lead to improved restructuring strategies.
It ultimately led us to teasing out our ideas in a podcast (3Sixty Insights #HRTechChat with Steve Hunt), facilitating an HR leader roundtable to test our ideas, coauthoring a paper (3Sixty Insights – JMDRN2321 “The Next Era of Organizational Restructuring: What We Can and Should Do Differently,” February 2023) and cohosting a webinar with technology solution providers (3Sixty Insights – “Organizational Restructuring 3.0: Using HR Technology to Reduce Workforce Cost While Retaining Employee Value,” February 2023).
The purpose of this Analyst Insight is to share insights and learnings from the webinar on how we can do restructuring differently using the technology such as Ingentis for organizational modeling, Performica for organizational network analysis, Eightfold for skills intelligence and Qualtrics for employee listening.
What You Need to Know
“We don’t need to rely on Excel spreadsheets anymore,” said Hunt, beginning to frame the conversation for the webinar, “yet most companies continue to do restructuring using methods that haven’t changed very much.”
Is that because it is the way we have always done it? Much of the technology that we can and should use did not exist the last time we went through a major economic restructuring. Now, with restructuring becoming more of a common practice, it is important for HR leaders to learn more about the advances in technology that support better decision making during these large-scale organizational changes (3Sixty Insights JMDRN2313 – “Hired to Transform – Learn How HR Leaders Can Use Ecosystems to Drive Innovation and Change in the Workplace,” January 2023). How can we expect different results if we are not willing to change?
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