Restructuring for Corporate Success: A Socially Sensitive Approach

Both civil society and the market are demanding that commercial enterprises exercise a socially sensitive approach to the way they conduct business and treat their workers, particularly when they are restructuring. Often, however, there is little social dialogue or consideration of affected employees' interests during the downsizing process. This book offers valuable tools and guidance on how companies can minimize the social costs during these periods of restructuring while maximizing economic output. Replete with numerous examples and case studies featuring good practice, this book demonstrates how many companies around the world have managed restructuring in a socially sensitive manner with global success. The volume highlights how a positive outcome is largely determined by the quality of labor-management relations, which has been proven capable of mitigating the negative effects of restructuring. The book details strategies such as counseling, training, internal and external job searching, mobility, and severance packages. The book also analyzes the various stages of the workforce reduction process and the ideas and principles behind socially sensitive enterprise restructuring.