Restructuring an organization, which is on the brink of
failure, is a major task. There are experts out there, who are called ‘Turnaround
Specialists’ have made their name and shot into limelight by turning around the
‘about to fail’ organizations and again setting them on the tracks of success.
Turning around a failing organization by doing a major revamp
to change its fortunes requires lot of intelligence, diligence, and common
sense on the part of the Turnaround Specialist.
First of all, the specialist has to understand the reasons for the
failure of the organization. For this, he has to cull out the details from the
existing employees through info sharing in a non-offensive manner and without
undue haste. Even a small mistake on the part of the specialist makes the other
stakeholders fire fresh salvos, which have the potential to rock the new
efforts. Again, if the proposal for turnaround
is inadequate, then the stakeholders may suspect the whole process leading to
creation of a perfect recipe for disaster.
‘Ego satisfying’ is one other big business that the
specialist should be good at! Just like how graffiti artists fight for wall
space, existing employees fight for own space (to satisfy their ego!)
irrespective of whether their presence is required or not in a particular scenario.
The specialist has to consider all these points; if he wants the organization
turnaround to be a success with a huge production turnout.
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