Unfortunately, as our economy has been hit devastatingly hard by this pandemic, some businesses are not going to rebound and are being faced with difficult decisions that have long term impacts to their employees. Some have been able to temporarily furlough employees and call them back as business rebounds. However, others may find themselves in a situation where they need to close the business altogether. In those situations, if the company is large enough to have an HR person on staff, you will likely play a key role in winding things down and may be one of the last ones employed by the business. A lot of people will be looking to you for guidance during this critical time.
I found myself in such a position back in 1999 when I was the HR Director for a large medical group that closed. It was not something that I was expecting. Unfortunately, there was a nasty and pretty public dispute between the physician owners and their management company that ultimately led to the dissolution of the company. Less than a year after starting there, much to my surprise I found myself in a key leadership role helping to wind down a medical group that had employed 150 physicians and over 600 staff. It was quite a learning experience. Although you’d never wish for it again, I’ve found that often the most stressful times are the ones where you can grow the most. And now I’m able to share what I learned with you from that experience.
Ten Key Considerations in Preparing for a Dissolution:
Laurie is an experienced Human Resources executive who is passionate about organizational culture, creating great workplaces and employee engagement.