Employees know what’s wrong – It has been my experience that employees know more about what and where the problems are in a distressed company than the management team. This fact sounds strange, but it is true. Many times, the management team is too embarrassed, out of touch, or too proud to tell me what is going on in the company and what may be wrong. It is their responsibility to fix the problems, but they have not done so for any number of possible reasons.
Employees know what’s wrong, to find out, all you need to do is ask them!
Let them know that it is okay to share information with you regarding problems and issues within the organization. Promote open communication. Reward those employees who reported the issue after resolving the problem, if there is a financial benefit.
Take care of your employees, and they will take care of you!
My name is Robert Curry, and I am an Author, CEO Coach, Keynote Speaker, and Turnaround Specialist. Over the past 20 years, I have worked with more than 70 companies taking their businesses from Loses to Profits.
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I have recently published two books about turnarounds: “From Red to Black – A Business Turnaround” and “The Turnaround.” Both books are true stories about turnarounds of real companies that I have turned around during my career. In both books, I have shared all my Profit Improvement Recommendations (“PIR’s”). PIR’s helped to grow sales, reduce expenses, improve cash flow, and most importantly, strengthen the management teams.
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