The start
A new Chief Executive, Huibert, arriving in an asset management business (part of a Dutch global investment bank) that last year produced operating profit of €100m, has agreed with the Board to deliver €250m in 2 years time. His arrival brings fears about the Board's intention (- are they planning sell us?).
Huibert invites Mobilising Teams International (MTI - a network of coaches specialising in implementing strategy through engagement of people) to engage the wider organisation of 1800 people in making this figure real.
What happened?
A complete restructuring to a new regional/functional matrix bringing new teams and a raft of “process” including performance contracts, monthly reporting, appraisals and career development. People found these difficult to implement and a distraction from achieving their performance targets
MTI appointed Alex as team leader, with Trish, Ben and Tony as team members and Chris in a supervisory role. They worked with the top team and as coaches to individual directors and their global teams. This entailed an intensive series of conversations, meetings and large conferences over a 12 month period. Throughout these our aim was to enact and spread a set of “coaching behaviours” as a means of engaging each director and their people with their strategic goals. We helped people bring difficult issues onto the table, work through conflicts, face up to some deep differences and make tough choices.
By the end
At the end of the first year Huibert reports Operating Profit well on the way (up 34%!) and strong confidence that the 2 year target can be achieved. Also the leadership survey results are up 9%, the global organisation has a much more commercial focus, all teams are clear about their objectives for the coming year and how these link through the matrix.
Huibert describes the direct impact on the results of MTI’s work as accelerating the engagement of others enabling him to step back more rather than driving himself. He has since been promoted to the Board. The better performing asset management business is secure from sell-off... for now.
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