New executives or boards (whether from a PE firm, or outside) are brought in for a reason. It’s simple. Something can be done better.
“I’m working so hard, but I can’t seem to get results to make the execs / PE partners happy.”
This refrain is common. The answer is not More, it’s Different. And two proven strategies are: Build a Delivery Machine and do a Rapid Reset.
First, the Delivery Machine.
The Chief Technology Officer navigated his manufacturing company through the storm of the pandemic when sales slowed. He optimized tech and maintained security for their sensitive client data with a skeleton crew. When sales recovered and skyrocketed, his team doubled. The transition from keep-lights-on to digitize-our-business was rapid.
The CTO was missing dates on business-critical new technology projects.
The CTO’s initial solution to the rapid increase of work and the doubling of his organization was to work 7 days a week. In many cases he himself worked on things that his team hadn’t completed or were struggling with.
The bottom line? – so much hard work, but still not the results PE team wanted.
We built a ‘machine’ or patterns to help fix the issue. The CEO confirmed business targets by quarter. Tech Work was evaluated, prioritized, and then tech team stopped, slowed and accelerated work to fit those goals. Measuring Performance of the tech teams drove staff shifts to critical work. Communication to other C-level peers used weekend-language to explain complex projects and ties to business goals.
In less than a year, the leader turned over 40% of his leadership team, and new hires made an impact within weeks to work that had been stalled. Quarterly targets and work alignment gave leader first data-based view into teams, and basis for changing priorities and responsibilities. And growth was back on track.
For the second organization, a Rapid Refocus was the answer.
The Chief People Officer led her global organization through rapid growth. She had significant programs underway; she could tell board members were not tuning in on her updates.
Her two biggest initiatives: 1) a revamp of onboarding to speed how quickly new employees could understand the company and make an impact and 2) a new people management system. These were pitched as necessary to modernize the company.
We rapidly refocused.
To support top-line sales growth (PE goal 1), we reduced the onboarding program to just Sales. Within weeks, sales numbers were rising as new staff were effective much faster.
To support EBITDA (company profit), we focused on features in the new people management system that would support restructuring decision making including reducing the imbalance of EVPs and SVPs.
By refocusing quickly, she reduced the work, focused its impact, and realigned her team to the mission of the company. And she started making an impact immediately.
Leaders can evolve to new pressures and succeed. Delivery Machines and Rapid Refocus are two successful strategies.
And everyone’s happy.
Christine Sandman Stone can change the trajectory of a team, a leader or an audience in an hour. 35 years in leadership in Fortune 500s, a master’s in organizational behavior, and the award-winning author of The Modern Management mentor. She is an expert on modern management.
