Triple Crown Leadership

Triple Crown Leadership

Tag Archives: Psychological Stability

Turnaround Priority: Establishing Psychological Stability

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For turnarounds to work, leaders must establish psychological stability in the organization. Too many turnaround leaders focus only on financial stability and neglect this critical element.  In the turmoil of a turnaround, many people are demoralized, afraid, or angry. Some feel misled or on the verge of panic. Logo-inscribed ball caps stay in the closet. Some people bail quickly while others are out looking for new jobs.  The turnaround leader must establish not only financial stability but also psychological stability. People need to be unfrozen, empowered to work on critical projects with confidence.  At a successful turnaround Bob led, where the extreme negative cash flow flipped to healthy positive in a few years, he began to establish psychological stability through an all-day senior staff meeting early in the turnaround. Here   …Continue Reading