Published On: Tue, Nov 14th, 2017

Your Company’s Greatest Asset

Robert Curry - Business turnaround expert - coach for CEOs and business executivesThe former CEO of Xerox, Anne M. Mulcahy, once stated during a speaking engagement when she was responsible for turning around this distressed billion-dollar company. I 100% agree with her words! I have written several articles on this particular topic, but her statement below describes my business philosophy the best in these two sentences.

“Employees are a company’s greatest asset—they’re your competitive advantage. You want to attract and retain the best; provide them with encouragement, stimulus, and make them feel that they are an integral part of the company’s mission.” ~Anne M. Mulcahy, former CEO of Xerox.

One of my past turnaround clients, a large engineering firm, had a young employee who worked in the construction materials testing department as a field engineer. During the turnaround engagement, he would often stop in to see me early in the morning before he would go out in the field to do his daily duties. Many times, he offered suggestions on how the company could reduce costs, improve efficiencies, and develop a much better customer service policy for the firm’s clients. He was not acting as a “whistleblower,” but suggested some very valid policy and operational changes on how to improve functions within his department. Initially, because he was so young, I would listen to him and then continue with what I was working on at the time.

One morning he showed up at my office with a typed list of bullet points of his ideas on how to improve the company’s service and reduce costs at the same time. He gave me a copy of his list, and we talked for 2 hours about all his suggestions. As he spoke, I took notes because 90% of what he said was useful to my turnaround engagement. I knew that he was a good employee of the company, but I also recognized then that he would be a more valuable manager for this client.

Within a week of our meeting, a field supervisor position opened, and I promoted him to the job. I monitored him in his new role and the reporting of the teams that he was supervising. His group of engineers was performing more profitably than any other teams in the firm.

During the engagement, I implemented most the changes that he suggested from our morning meetings. I promoted him again to be the manager of the department by the end of the turnaround engagement. After the promotion, he was responsible for sixty of the field engineers of the branch.

Take care of your “superstars,” and they will take care of you! Just like Anne Mulcahy said in her quote, “Employees  are your company’s greatest assets!”

Bob Curry is an author, seasoned business coach, and successful turnaround specialist. Earlier in his career, he served afrom red to black book-bob currys President/ CEO of three different companies, the largest with annual sales of $1 billion. All three companies experienced successful turnarounds under his management.
In the late 1990s, Bob started his turnaround consulting firm. For the past twenty years, he has turned around more than seventy distressed companies in several different industries.
Bob published his first book: From Red to Black – A Business Turnaround – The Matter of ABC Shutters. He resides in Fort Lauderdale, Florida, with his wife, Esther. He may be reached by email at: bob@ceorsc.com or by phone: (407) 968-9000.

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