Lessons Learned

Charles J. Alaimo ()
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Charles J. Alaimo: Human Resources for Group One Trading

Chapter 9 in HR Leadership During Bankruptcy and Organizational Change, 2022, pp 73-81 from Springer

Abstract: Abstract In this chapter the author summarizes key learning experiences gathered from having gone through a Chapter 11 reorganization. The lessons learned contain valuable tips for any manager or HR professional who may be about to embark on such a change. Among the areas that HR should be aware of is the transparency of compensation and retention information once a Chapter 11 is filed. With the added scrutiny of the bankruptcy courts and Uninsured Creditors’ Committee, retaining all information and rationale for compensation and retention plans is critical to supporting why certain decisions were made. As with any change, being visible and accessible, communicating frequently, and having backup plans in place are all equally important. The chapter also discusses not focusing on the one-percent; those employees or detractors who, no matter what the company was to do, would find fault with everything. As part of that the chapter discusses the 5-factor model of personality and its relation to overall job satisfaction. With any organizational change, performing a retrospective and obtaining feedback on what worked and what could have been done better is helpful for HR and managers to understand, learn, and grow for the next change event.

Keywords: Compensation; Transparency; Information; Decision rationale; Communication; Backup planning; Confidante; 5-Factor model of personality; Timothy A. Judge; Employee feedback; Retrospective (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-030-95048-4_9

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DOI: 10.1007/978-3-030-95048-4_9

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