The former chief financial officer of The St. Paul Company, Paul Liska leverages his extensive financial experience to work as a private investor based in Illinois. In his previous role, Paul Liska implemented a large cost reduction effort and restructured several functions within the company.
At some point, every company has to restructure at least some of its existing systems. Below are several signs that it’s time for a company to restructure:
- Competitors are winning. To succeed, companies must remain competitive in their market. When competitiveness becomes a challenge, most businesses need to take a serious look at their business model and organizational structure.
- There’s a high turnover rate. Companies must track the turnover of both employees and clients to make sure they are still strong. A high rate of employee turnover usually indicates there are morale issues or unaddressed problems with management. Meanwhile, a high client turnover suggests customers are no longer happy with a company’s service or product.
- Growth has stopped. Regardless of how well a company is performing in its market, it’s important that it grows and scales up. Unfortunately, many companies struggle with this, suggesting they are in need of restructuring.
