Private Equity Held Company
Changing services culture by increasing business awareness
Context and Challenge
- The company had experienced a 57% drop in year over year EBITDA, which was partially the result of new business development and sales being based largely on potential revenue, not profitability.
- There were many leadership challenges; a new CEO and executive team had just been put in place as a result of an ownership change.
- There was a wide lack of understanding of core value drivers of the business and lack of operational control. This meant that for the field teams, they had little visibility of their required operational targets to ensure projected EBITDA was obtained.
- Overall, their was an unhealthy business environment with no clarity of vision, mission or values and where people were afraid to make mistakes.
- Working with the CEO, an internal company wide change program was developed, using a stage-gated approach with clear plans and outcomes.
- Three distinct work streams where identified that focused on:
- Leadership & performance management, instilling new vision, mission, values and behaviors. Using DADA in the daily weekly and monthly meetings and training & mobilizing an internal business optimization team.
- Work Execution which focused on installing field level cost/loss management process and tools and planning and scheduling processes and tools.
- Commercial Excellence which standardized a new bid review process as well as ensuring job profitability was tracked through the entire sales cycle.
- Client coaching allowed for an integrated model of practical operational improvements to combine with the leadership and culture behavior changes.
- An explicit approach of working with the client staff to develop their own solutions, through a highly leveraged deployment model throughout the geographically dispersed regions, from C-level down to field teams
"Evolve's coaching has helped my people to address real business issues in a way that has added value while building their capability and confidence. I appreciate Evolve's ability to coach me and my senior team as well as employees at the shop-floor level—and link those interventions to drive business improvement."
~ President and CEO LNG company