Going through a tough time with your business?Here’s why hiring a virtual Chief People Officer could be the best thing you do for your team
I’ve been thinking a lot about where a lot of businesses are sitting at the moment, having to make a lot of hard decisions in order to stay afloat and it got me thinking a lot about how we navigate these times of change and uncertainty. We know that no-one likes going through restructures and it’s often a last resort for a lot of companies who are financially struggling at the moment but if we have to go through it, it’s crucial for us to consider how we’re going to do it and how we’re going to support our team post that change.
When I speak to small business/startup owners and CEOs about these changes they’re facing, I can see that they’re really grappling with these unknowns of what they’re facing, and sometimes they’re trying to do this without the expertise that is required to be able to manage these moments of change well, either because they don’t have that support in house already or because often our People team are often the first folks to be affected in a restructure.
So I’m thinking, and I may be biased here, but I think these times are a perfect opportunity for us to think a little differently when it comes to getting the right support in to manage these times of change. How can we get the right support in while not costing us heaps of money while we’re in the process of reducing cost? The answer is virtual or fractionalised HR support. And in this case, a virtual Chief People Officer (vCPO) is exactly the type of skillset and person you need to help you navigate tough times.
Let me share a bit more about why I reckon a vCPO is the right person for you to bring in:
They know how to navigate and implement change, and do it well. While it’s necessary for us to change in order to keep afloat, or grow, or morph into something else, it can be disruptive and unsettling for your team. Having a part time vCPO to help you make sure that the change process aligns with your values, is legal and fair and is as empowering as it can be (let’s face it, it would be disingenuous to say it will be amazing when you’re potentially making people redundant). They can help strategically plan for the change you need to make, then help you implement and communicate it well. They can also help with coaching conversations to help folks work through individual changes to their work and help support any team members who have been made redundant with transitioning them into their next role.
They can help you with retaining your staff. As mentioned, change can feel really hard for people and post implementation of any big change is a time when we’re more likely to see resignations from other folks who we’re trying to keep (especially if we don’t have people helping with point 1). There are heaps of things to consider here - how do we have meaningful conversations with folks so we understand what they need, how do we address concerns in an appropriate and accountable way and how do we communicate what’s going on in a way that means our team feel part of the new change and the possibilities that come with it. A vCPO knows how to do all of this stuff and make sure it’s tailored for the team and culture you have. Whether it’s working through retention strategies, doing individual coaching or being a bouncing board for your comms, they can do it all.
Maintaining team identity and culture. This is very much tied to the previous point. In times of uncertainty, some of your current team will be tempted to look elsewhere, especially if there isn’t clear comms about what’s happening next or when the ship will steady itself enough for us to recalibrate. That recalibration time and making space for the effects of change to steady a bit to evaluate where we’re at is a key part of helping to build strong and resilient teams and maintaining the culture of the company. I see so many companies swing from change to change to change and then wonder why their turnover is so high and while there’s often a lot of factors behind that, a big one is that we just never let our team’s feet touch solid ground. Operating in uncertainty for periods of time can be exciting or present interesting opportunities for people but doing it for a very long time is not only terrible for people’s wellbeing but it’s a total culture killer. A vCPO will be able to help you navigate that post-change support phase and helping to get people a bit more settled and able to maintain individual and team identity throughout.
A lot of the founders and CEOs I talk to feel nervous about bringing in additional support when they’re making some folks redundant, and I totally get that, but I also know that it speaks volumes about the type of employer you want to be long term and it makes a huge difference to the experience that your team will have during this time. That’s invaluable.
This isn’t supposed to be a sales piece, by the way (or really only a little bit) 😂 The main point is that this type of people support is pretty choice, no matter where or who you get it from. I’m always stoked to see lots of our startups and small businesses starting to think in this mode of virtual/fractional roles a lot more and seeing the benefits they’re getting from it is a real good feeling.
If you wanna chat about Chief People Officer services generally, or hear about how we do this at BloomHQ, flick us a message or book a time to chat with me here. I’m keen as to chat to anyone who is thinking about it, regardless of whether you contract us or not. Let’s do it!
