Time To Flourish

Interim Management

It’s Time…Let’s Move Forward

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Moving forward is sometimes hard to do.  It seems funny now to recall our expectations from March or April.  Back then, cynics thought that things would be back to “normal” by the summer.   For those less realistic, it was believed that it would take 14 days to flatten the curve, then right back to it.  The reality is that the only accurate adjective for the present is “ever-changing”.  Whether your business has experienced increased performance because of the pandemic or has slowed down considerably, it is time to evolve to meet the needs of your customers.

There have been considerable examples of innovation in the last few months to get businesses going; curb-side pick-up, remote personal training, parking lot dining, cashier-less grocery stores, expedited digital banking, etc.  After all, “necessity is the mother of invention”.  If innovation and change is what you need to keep your business moving forward, now is the time.

First, there are a few critical steps to take on the road to your “new normal”.  There are many questions that need answered.  Do you need to determine a new delivery method for your product or does your product need to evolve?  How do you keep your employees and customers safe and at ease?  How do you reach new customers?  How will you provide your services with the current restrictions?  Reinvention is not easy.  However, there is no time like the present to regain control and move forward! 

How?  Of course, the answer will vary by business, but there are certain commonalities to the process regardless of business type.  It all starts with an acute awareness of your surroundings, a well-thought-out plan, and the understanding that it could all change on a dime.

 SWOT Analysis

Particularly now, it is important to identify the external factors that will impact your organization’s performance.  For this reason, it is important to conduct a new SWOT analysis.  So much has shifted in the landscape of running a business, it is not surprising to find major changes particularly in the areas of external opportunities and threats.  Action plans will be necessary for ways to optimize new opportunities and to formulate contingency plans for potential threats. 

Rethink Strategy

The strategic plan completed prior to March 2020 may not fit the needs of your organization mid-pandemic.  It has become necessary to assess and possibly rethink the current plan to identify areas of change needed to align with the current circumstances.  Will you need to change or modify services, programming, or products?  Does the organization have the right expertise in the current staff to make the necessary changes? How adaptable is your current business model?  Does the current organizational design still make sense?  These are just a few of the many questions that need answered to strategize about the future of your organization. 

Adaptability

The SOP’s followed in February may not “fit” today and, likewise, initiatives put into place today may not be effective after the next six months.  If 2020 has taught us anything, it is that we need to be flexible, ready to adapt to circumstances that may unexpectedly arise. 

Adaptability makes a great argument for taking your leaders through a mid-COVID SWOT analysis process.  By identifying the external opportunities and threats that impact your organization, you can minimize potential damage and maximize potential gain.  Contingency plans for circumstances, events, and conditions that are not under our control are the best way to safeguard your organization from harm.   How would you benefit by certain external circumstances?  What must be in place internally to take advantage of an opportunity presented to you by an external event? 

Change and innovation are the steppingstones to improved outcomes.  Although, it’s not an easy path to travel down, the destination justifies the journey.

The Time To Flourish team offers strategic planning facilitation services which allows your team to focus on contribution and content while our team leads a process rich with innovation and adaptability. Call us to discuss the advantages to our Strategic Planning service.

The Power of Good Communication

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There are several factors that contribute to creating a productive and satisfying workplace environment, however, none more important than good communication.  Effective communication is critical for success regardless of the size and structure of your organization.  Poor communication will result in lower productivity and employee morale and engagement which ultimately impacts financial performance.  Everyone will agree that good communication is key, however, the quality of communication is not always measured or considered.

Good communication typically mitigates conflict.  Poor communication fosters an environment of confusion and resentment.  When evaluating and establishing your communication strategy, include measures to avoid misunderstanding, consider communication patterns and preferences and address the emotional needs of your team.

It’s important to assess whether your message is being understood as intended.  Communication isn’t simply sharing information but measuring how the information is received.  If the message is received differently than it’s intended, confusion on the part of the receiver may lead to resentment.  I have witnessed the devastating effects of poor communication, particularly when the communication avenue is only one-way.  Therefore, an effective delivery must include a feedback loop; a means to determine if the communication was received, understood and supported.  Two-way communication is always the goal when establishing an effective system of sharing information.

The vehicle of communication is also crucial.  A multi-generational workforce makes this more complex and requires that you consider various options of how to share information. Communication methods must be effective with your entire workforce which is most likely comprised of Baby Boomers, Generation-Xers and Millennials. Is your organization relying on email to distribute information?   Are you utilizing social media and technology as part of your strategy?  Are you ensuring that your communication strategy includes face-to-face interaction?  A multi-faceted approach will ensure that you are meeting your team at the point where your message will be best received and may include regular “Team Huddles”, an intranet providing policies and procedures plus company news and events, and regular but concise emails.

Ongoing assessment and feedback methods are a key strategy for organizations determined to establish a workplace environment rich with productive communication.  Employee surveys are a great way to assess your team’s perspective.  Surveys should be conducted at regular intervals and responded to in a timely manner.  Analyzing utilization of the company intranet will provide valuable feedback on its effectiveness.  Another great way to assess the quality of communication is to create ways for the team to echo the message back to management.  For example, when introducing a new policy, ask your team to respond with how this new policy will impact their roles and their productivity.

The power of good communication in your organization is significant and will result in improved employee engagement, higher productivity and an increased sense of their value within the company.  Establishing an effective communication strategy is complex but will greatly improve performance and outcomes.

 

6 Reasons Why Interim Management is a Wise Choice for Many Organizations

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Have you ever wondered why some organizations hire an Interim CEO or an Interim President/COO?  Here are some insights as to why they do it.

1. Allows Hiring the RIGHT Leader to be the TOP Priority

The decision to change the top leadership of an organization is a big one.  Replacing that person with the right candidate is a long and time-consuming process.  And one that an organization can’t afford to mess up.   An interim leader allows the hiring committee to solely focus on the priority of recruiting and selecting a permanent leader.   Often times a top leader is left in place much too long for the simple reason that the hiring committee does not yet have their replacement identified.

2.  Brings Objectivity

An interim leader is able to remain inherently objective while they are in their role.   They are able to see the big picture and prioritize the needs of the organization without emotion or bias.

3.  Reduces Anxiety

Change at the top level creates uncertainty for the employees.  A board member or operating partner acting as CEO can create additional stress and workplace politics which creates a more inefficient workforce.

4.  Reduces Transition Lag

An interim leader is able to keep the company moving forward and focused on strategic goal achievement during the transition from one leader to the next.

5.  To Support a Founding CEO       

Sometimes a founding or start-up CEO finds that their organization has outgrown them.  They might not be ready to step away and/or still have value to bring the company.  An interim COO can provide the necessary support and collaboration the CEO needs to keep the business moving in the right direction.

 

6.  To Balance an Entrepreneur  

Everyone knows that the skills that make someone an amazing entrepreneur are not all the same skills that make an amazing leader.   A proven c-level executive collaborating with a visionary entrepreneur can be the perfect synergy for a start-up to realize true success.