Skip to content. | Skip to navigation

Personal tools
Sections
You are here: Home Focus 3 Tips to Help Businesses in Transition

3 Tips to Help Businesses in Transition

While most business owners think of a business in transition as a company up for sale or having been sold, but that isn't always the only prerequisite to transitioning. Any business, large or small, can be in a state of transition without changing ownership!

Consider for a moment what the UK is going through at the moment with Brexit a huge concern in all areas of life. Leaving the European Union was no small consideration for the government as well as its citizens, and with Brexit comes the need to do some major transitioning in almost all aspects of how companies operate. With this as our example, let's look at some tips to help your company transition if major changes are in the air.

1. Communication Is Vital

When a company is in a state of flux, rumors can fly easily. This can be highly demoralizing in terms of productivity and that's something you want to avoid at all costs. As in the UK, you can see how it was imperative for bosses to stay in constant touch with members of their teams. Some EU workers were worried about keeping their jobs while UK workers feared being left with an overabundance of tasks as EU workers were sent back to the continent. Adjustments needed to be made and this is where management should have stepped in to ease those worries. Communicating with your staff is vital to keep the flow of work on task and on time!

2. Rely Heavily on Project Management Tools

Another key area that needs addressing is project management. When a business is in flux, you cannot afford for projects to stall. Project management tools enable directors and key people like engineers or department heads to lay out project-oriented tasks so teams can follow any changes made in order to adapt as needed. Whether putting one job ahead of another or reassigning teams as needed, digital access to project management tools can keep everyone on the same page at all times. If you aren't using project management software at the moment, this is something you should seriously consider especially if major changes are in the wind.

3. Appoint Company Liaisons

As mentioned, workers are likely to hear rumors of doom and gloom because that's human nature. We tend to think the worst and that proverbial cup is always half empty. If you want to dispel any rumors so that workers are not distracted by worry, why not appoint a company liaison to communicate directly with anyone wanting to voice their concerns? It could be a member of HR or it could be a specialist brought in with expertise in working with companies in transition. By appointing a special liaison, department heads, HR and managers are not being sidetracked to ease concerns your employees may have.

Whether growing your company, moving to a new location or even changing upper management, a transition is a natural part of the business world. It pays to be well prepared so that your business doesn't suffer in the process. These tips should help you get through the worst of it and with a liaison can fill in the rest.

Document Actions
EU Alerts

EUbusiness Week no. 851
Time to speed up climate action
→ EUbusiness Week archive

The Week Ahead no. 453
Situation in the Gulf and Iran - implementing Basel III - support for former Carrefour Belgium workers - 2020 EU Budget

Subscription options