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 a rigorous data-analysis-decision-action loop 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
"For me, Evolve reaffirmed the need for people to have a purpose and to align individuals with the team. It takes more than a great process to get results; it takes people who are switched on and who see the difference they can make."
~ Operations Performance Unit Leader