Last week, my article revolved around the common strategy, steps or approaches that many organisations usually follow in order to save themselves from sinking. The typical steps include appointing a new CEO, reshuffling the senior executive leadership team, cutting costs from every corner and finally pushing the sales team with and for aggressive revenue targets. While these moves are intended to restore confidence and improve the financial performance as a result, they often only produce short-term optimism and consequently fail to address deeper issues (the main problems per se). New leaders normally surround themselves with loyalists (or friends, family and past colleagues) rather than capable challengers. Cost-cutting measures can harm innovation and morale; and finally, aggressive sales tactics often ignore root causes like outdated products or customer dissatisfaction, to name a few. Without a strategic and evidence-based plan, these reactive measures rarely produce fruitful results. True transformation requires more than just surface-level change. My article this week focuses on some of the initial actions that can be followed in order to recover and stay afloat (based on research from renowned institutions that experienced the same).

Irrespective of whether it’s a new or an existing leader and/or senior leadership team in place, listening deeply, widely and carefully is the number one action that needs to be done. Taking time to understand the problems is crucial before doing anything else. Listening to employees on the ground, frontline staff, long-time customers, old clients and even past employees will surely help find out the problem being faced. Unfortunately, this is rarely the case and as a result, problems will remain one way or another.

Secondly, the leader and their senior executive team need to ensure trust is rebuilt internally. This can be in ensuring they are visible and approachable (by repetitive communicating and keeping an open door policy), acknowledging what’s shared (be it in the form of comments and feedback), consistently sharing a clear vision, mission, strategy and related road map (of where they are going, how and when); and finally keeping employees and various stakeholders engaged throughout the journey. Trust doesn’t come from promises. It comes from transparency and consistency.

It is important for the leadership team to carefully identify employees internally who still believe, still perform and still care for the success of the organisation. Loyal employees are valuable for the organisation. What they only need is someone to listen to them and give them a room to lead and grow. Some of these employees may not have the loudest voice, but they carry the culture. They are the internal champions who will drive the recovery from within. Do not ignore but empower them. Treating all the employees the same is a mistake that needs to be avoided.

Action speaks louder. The new team in place needs to take decisive action immediately upon joining, listening and empowering the right team and employees in place, for this will send a message that things are happening. Urgency is important, but random, reactive decisions only create more confusion. Leaders need to continue communicating regularly and tracking progress transparently and should not be afraid to take action for changes when necessary. Leaders with clear, transparent and fair action are respected dearly.

In conclusion, loud announcements and mass layoffs may result in a short-term win. However, truth be told, these moves are unsustainable in the long term. Clarity, humility and trust, followed by a focused execution, is what would not only save but also sustain the growth of the organisation in question. People need to understand that fixing a business starts by understanding the people, the purpose and the pain points. Thoughtful but not flashy turnaround is the name of the game and only those who know and play the game win. Until we catch up again next week, be positive and stay alert.

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