- MemberNovember 17, 2021 at 3:23 pm
I am Ida, the lead consultant from WSC. After spending some time going through your company structure in all of your locations and understanding the functions and capabilities of each business unit, I notice you could benefit from reorganization specifically to your Finance, HR and Product departments. But first let me tell you the data that I have gathered to draw the conclusion.
- Assessment on individual competencies
- Assessment on individual job scope
- Your company mission, vision and core values
- Overlaps job functions
- Burning issues within the teams
For HR and Finance department, instead of these 2 teams working in separate silos, it is better we centralized the team. HR team will benefit from knowing the financial aspect of running the business i.e budgeting, profitability, reading and understanding financial statements. Hence going forward, HR team will have better understanding of the business, how the business earns money and have meaningful conversation about company’s financial profile to potential clients or employees.
As for Finance team, with the knowledge on labor laws, employees benefit, compensation, training, rewards, recognition and workforce planning, only then Finance team will understand the importance of human capital investment and able to work proactively in proposing win-win situations to both company and employees.
What is considered as expenses in finance might be considered as an investment by HR. Therefore this overlap in functions will be fruitful for both teams and organization.
For product department, we proposed to decentralize the team forming few smaller teams to create more visibility on each product developments and assigned new manager to each team. So each team members and projects will receive more attention from the managers and quicker decisions can be made.
To implement such a big change, we will use Kotter’s Change Management Theory. Whereby we proposed the following steps:
1. Careful Planning
– Timeline of when and How this changes will take place.
– Lay out each team’s milestone achievements and timeframe to achieve them
– Documentations on current state and organization’s future plans
– List of new or changed in responsibilities
– Discuss any potential concern that might be raised by employees ie salary and working hours, laid offs..
2. Host a townhall for both teams and present the plan with Q&A session at the end
3. Ensure the employees the company is not letting go of any employees. It is just cross functional collaborations to increase specialization and responsibility
4. Lastly, assign a personnel from each team to champion this changes. He/She will help in managing the change and milestones, remove any roadblocks, keep the team’s spirit up and provide necessary support to the team.
So are you ready to make some big changes?