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Boston Accounting Firm: Restructuring And Downsizing Plan Free Essay Help Online

Required Alterations


There are numerous instances in which businesses must modify their operating procedures. Changes may be introduced for a variety of reasons, including the development of current technology, the changing of consumer needs, or the adaption to market demands. In addition, transitions may be the result of crises, new possibilities, and performance gaps among employees (Jalagat, 2016). As for the corporation that will be addressed within the context of this presentation, the shift was brought about through the merger. The company merged with a far larger Boston accounting firm. Consequently, there is a need to reduce the number of personnel in one of the organization's departments. In this instance, the transformation is necessary to improve the company's efficiency, raise its revenues, and decrease its expenses.



The Effects of Alterations



There are numerous alterations brought about by downsizing. Therefore, the corporation may decide to reduce its workforce in order to boost productivity. Man's labor force is replaced by automatic equipment, which decreases the organization's expenses and increases its output. Moreover, downsizing eliminates the disputes that may arise between individuals, particularly if they are of different cultures and beliefs. It is important to highlight, however, that downsizing is typically carried out by professionals from a variety of sectors, who help choose who should be let go and which specialists should remain in the organization. In the instance of Boston Accounting Firm, the layoffs will be carried out by employees from a variety of departments, including Auditing, Tax, Corporate Governance, Legal and Insurance.



Who will be impacted and how will they be impacted?



First and foremost, any organization's employees are affected by downsizing, as they are the first ones to confront the hardships of layoffs. It is verified by the fact that the majority of employees suffer anxiety and worry due to the possibility of termination. In addition, downsizing can necessitate the relocation of employees, as well as the expansion or modification of their responsibilities. It results in stress, which negatively impacts work performance. People may also encounter problems at their new workplaces due to the collision of corporate cultures in the event of a merger-induced downsizing. Additionally, some business owners may be impacted, as there is always the possibility that personnel will not be able to adhere to new regulations and directives.



Administration of Potential Conflicts



The most major risk associated with mergers and downsizing is the increased likelihood of employee conflicts between firms. In order to manage the contradictions, supervisors must take particular activities. These activities consist of comprehending the nature of the disagreement, listening to both parties, and encouraging employees to address the issue on their own. If they are unable to handle the challenges on their own, it is vital for them to determine the actual issue and come up with a solution collectively. Later, it will be necessary to provide training to teach staff how to communicate effectively and function as a team.



Increasing the Trust



To accomplish success, it is also advantageous to create and strengthen trust between staff members, particularly during the downsizing. Consequently, both bosses and subordinates can strengthen trust via their hard work. It entails adhering to a certain strategy based on honesty, staff support, consistency, and accountability. However, there are certain circumstances that undermine trust. Managers should be prepared to respond appropriately to these situations by creating guidelines and praising those who follow them. Therefore, a plan for repairing trust should involve boosting communication, avoiding gossip, and fostering respectful relationships among coworkers. It may also include dependability, honoring promises, and forgiving others for work-related errors.



Distribution of Authority



After reorganizing an organization, the distribution of authority should be based on the qualifications, skills, working experience, and talents of the personnel. Regarding the heads of the Boston Accounting Firm, authority will be distributed proportionally to the amount of financial resources given to the organization's growth. Moreover, the number of shares owned by firm owners will also determine the distribution of power inside the organization. It is also important to consider that reorganizing an organization may result in a shift in its mission and objectives. The allocation of power will then take into account the employee's backgrounds and how their knowledge might contribute to the attainment of new objectives.



Strategies for Effective Restructuring



For a successful downsizing, it is required to adhere to specific procedures. First, it is preferable to inform personnel about upcoming changes in advance. It is particularly important for individuals who will be terminated as a result of the layoffs. These employees should be advised of their rights to compensation and other social benefits that may be used to facilitate their dismissal.



Those personnel who will continue working at the organization should be supplied with instructional materials to strengthen their skills and adapt their knowledge for the successful completion of new responsibilities. To prevent conflicts, it is also necessary to implement an open policy for the organization and respond to all employee inquiries regarding the rationale behind choices.



Avoid these Strategies!



The two worst strategies that can be employed during reorganization are keeping people in the dark about future changes and holding competitions for future employment. As indicated previously, workers should have sufficient time to pursue new employment if they are to be terminated. In addition, people need time to adjust to new situations and be prepared for any alterations. The concealment of information and the introduction of unanticipated changes may only result in aggravation, disagreements, and the production of unneeded emotional stress among personnel.



During periods of retrenchment, some firms choose to hold competitions between employees for future roles. They may also recruit multiple candidates for a post to evaluate their performance during the trial term. As it produces tension and an unfavorable psychological environment, Boston Accounting Firm will not employ this method.



Advantages of Changes



There are numerous advantages associated with downsizing. As stated previously, this leads in an improvement in production. Additionally, the improvement of productivity increases revenues. Additionally, fewer disagreements occur between employees of the firm as a result of the reduction in the workforce.



Change implementation timelines can vary based on a variety of factors, such as the organization's size and the industry in which it operates. The organization's success and position in the market also play a crucial role. The Boston Accounting Firm anticipates resolving the most significant difficulties that may arise as a result of the downsizing within six months.



Transmission of Changes to Employees



According to the organization's philosophy of transparency, any potential organizational changes must be informed to the workforce. It is vital to have a courteous approach toward all organization employees, including those who will be laid off as a result of downsizing. In addition, it is essential to be prepared to reply to all employee enquiries and questions about upcoming changes and hold presentations to offer personnel with precise information. Every fired employee at the Boston Accounting Firm will receive severance pay and a letter of recommendation for future employment to ensure a seamless and stress-free downsizing. In addition, the reasons why certain individuals were fired and others were invited to continue working will be revealed.



Reference



Jalagat, R. (2016). Organizational viewpoint on the influence of change and change management on the achievement of company goals and objectives. 5(11), 1233–1239, International Journal of Science and Research

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