Rightsizing – when is the best time for planning?
As we turn the corner and leave 2020 behind, contemplating how to begin planning for rightsizing. 2020 will go down in history as one of the most difficult years for many businesses. Some experienced reductions in force or downsizing, some experienced physical office changes due to more remote work, and some businesses were forced to completely reimagine service delivery and offerings.
Rightsize planning includes asking some tough questions. Some examples are
- When is the right time?
- How well is my business doing?
- Is this growth sustainable?
- How much can I invest?
- How will more changes affect my employees/customers?
All very important questions, indeed. Determining whether you are asking the right questions takes time and patience. Having experienced 2020 alongside many of our clients, we learned that one of the most effective ways to realize this is to employ Stephen Covey’s “Start with the end in mind” attitude. This will help you keep your unique business challenges at the forefront. Additionally, you will be able to stay focused on what you want to achieve as well as begin to look for creative ways to plan and execute.
Rightsizing and downsizing have one thing in common: they require business owners to take decisive action. No matter what your situation was in 2020, being reactive surely will not help you achieve your business goals in 2021. Taking the time to plan when to begin planning processes, and then putting plans in place is easier said than done anyone can tell you that. So, what have you got to lose?
CEO, Solutions At Work
A trusted provider of HR and Payroll Solutions