I believe there are five important steps to upgrade your organization! Every time I start an engagement with a new turnaround client, the first thing that I do is assess the quality of the management team. Unfortunately, they are the people that got the company to the point where they needed to hire a turnaround specialist. My job then is to have a group of managers that can change the results of the company to be positive and do it quickly. Some of the time the turnaround can be done with the current executives, but most of the time, not.
While deciding who is going to be on the team to turn this company around, I start the process to develop an upgraded organization which involve five distinct tasks:
1. Upgrade Your Organization. Demand improved performance from the management team and all employees.
To accomplish the turnaround, we must successfully change the attitudes of all the staff, for the turnaround to happen. Then, every ninety days, we raise the performance bar again. We create a corporate culture that recognizes that performance can always be improved. We analyze every process to improve the efficiency and lower the cost rather than continue the attitude “This is how we have always done that!”
2. While we are working on improving the performance of the company, we recruit and hire the replacement(s) for any of the management team.
Once we have our new management team in place, we help them grow through training programs for management skills and team building. We work on improving the communication among the group at the weekly turnaround meetings. We start with the managers upgrading their performance through training and then move the process down to all employees. Our goal is to have to everyone in the company growing and excited about working for this company.
3. Upgrade Your Organization. We improve the work environment, so the employees enjoy coming to work for this company.
Sometimes, it is as easy as a coat of paint, a new refrigerator in the break room or getting rid of all accumulated junk laying around the offices. We want to change the corporate culture to be positive for every employee. Our goal is to have every employee to be positive about the new corporate culture. For those who don’t, we counsel or terminate them. Sometimes it requires getting rid of a “bad apple” to make immediate positive changes.
4. The owner and management team develop new corporate goals for the organization to accomplish.
We write the goals in the “SMART” format (S = Specific, M = Measurable, A = Achievable, R = Realistic, and T = Time Deadline.) We distribute the goals to all employees, so everyone understands their role in accomplishing each goal within the 90-day timeframe. The goals are printed on a poster and displayed in key areas around the office as a constant reminder to everyone.
5. Quarterly, we complement and reward the success of the employees that accomplish their personal goals. We reward those people at the quarterly meeting with all the staff attending.
Always acknowledge salespeople who make their sales quota with a quarterly bonus. The company recognizes and rewards operational employees that achieve their production goals. The policy of giving bonuses for meeting goals reduces employee turnover and materially improved the corporate culture of the staff.
Don’t wait until you need to hire a Turnaround Specialist to Upgrade Your Organization, do it now!
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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