Corporate Turnaround

Many turnaround professionals believe that human resources activities are adequately handled by the finance staff or business leaders or, alternatively, that these issues concern compliance and that it is best to rely on the employment and benefits attorneys to handle such matters.

Moreover, when faced with the necessity to reduce costs, human resources expenditures often are viewed as discretionary. However, such thinking helps to perpetuate some of the people problems that the turnaround process is designed to resolve.

One alternative to handling human resources issues during a turnaround is to outsource those functions to professionals who can contribute strategically while also overseeing communications, administrative, and compliance issues for the organization. At EP Advisors, we have fully certified human resources staff and other seasoned professionals to help get your organization back on track during a corporate turnaround.

Services available include:

• Services in the areas of performance management
  
  
• Development of human resources systems
  
  
• The introduction of performance metrics to track results
  
  
• Creation of the appropriate human resources infrastructure

Human resources professionals must be able to speak the language of business and those of benefits and employment attorneys and pension consultants as well. A balance of understanding complex technical requirements and the ability to design implementation processes is key.

Organizations in a turnaround are faced with many challenges and opportunities. These organizations have many choices. Outsourcing human resources functions during a transition allows a company to call on the skills of professionals experienced in this unique area when it needs it most.