Top tips for employers during a restructure process

Business Restructure - Legal Solutions NZ

New Zealand is forecasted to enter a recession in 2023, and this is likely to have an impact on employment trends. During a recession, people and businesses tend to reduce their spending, unemployment rates increase, wages are suppressed, and jobs can be cut.

Here are our tips for employers considering a restructure:

  1. Be proactive and plan ahead by reviewing your employment agreements and internal policies to check they are up to date and compliant with the law.
  2. Review your redundancy process and make sure you understand the law around redundancy – there must be a genuine business reason and a fair process must be followed.
  3. Communicate with your employees – this is part of your good faith obligations, but it is also important in retaining trust and confidence.
  4. Seek legal advice early. If you have any concerns with a process, be sure to get advice before things go wrong.

For more information, check out: Employment New Zealand’s Overview of workplace change » Employment New Zealand or get in touch with our team.