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One of the most common reasons to need a turnaround situation is ineffective management. Usually the people who create the problems, they do not know how to solve them.
Many people think that just changing the Managing Director is enough to get a turnaround. However, turnaround situations need many initiatives around the whole company as quick as possible, and that use to need more than one person in order to get results in the very short term. Additionally, change management is one of the pillars of turnaround and that activity is unlikely to be performing for just one person.
Moreover, ineffective managers used to hire and maintain ineffective people. Turnaround situations demand urgent action, and looking for new managers in the market place mean time and risk of hiring unknown people.
The gurantees of using a high performance turnaround team
- Team members know each other from previous projects and the risk of hiring incompatible team members is very reduced.
- The risk of hiring wrong people as well is reduced. When we are talking about wrong people we are talking about people without the right capabilities, or people that are not able to work on turnaround stress situations.
- Turnaround is a discipline that solves problems in a very different way from companies performing well. So using inexperienced turnaround people did not use to work.
- Quick results (“there is not time”).
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