Turnaround Management: Assessing Leadership – 3 Tips!

The Point: The need for great leadership in turnaround management cannot be overemphasized. Leadership is actually what will determine the level of effectiveness of any action taken by the company. Leadership dictates talent management, which plays a significant role in the wellness of a company. You may intend to turnaround your company, or perhaps tried but been seemingly ineffective, and feel you need to assess your leadership to see if that is where the problem is coming from. In this post we’ll explore Turnaround Management: Assessing Leadership and provide 3 Tips (methods) for success… Enjoy!

3 Tips for Leadership Assessing during Turnaround Management

Tip #1 – Assessment Tools

It is required for holistic assessment to be taken, in order to scrutinize different aspects of leadership. Quite simply, there are various ways by which leadership can be assessed, but the problem is that none of them are accurate to the extent that they can be fully relied on. This is as a result that individual behaviors are highly sophisticated and dynamic (dare I say “chaotic”?) This method of using assessment tools may entail giving questionnaires, carrying out 360 degree evaluations, carrying out FIRO-B, setting interviews, reference guidelines, and so many more. Assessment tools can be very effective when various perspectives are sought so as to gauge leadership.

Tip #2 – Leadership Simulations

In traditional assessment centers, leadership is actually assessed with the help of multitudinous leadership simulation exercises. The way exercises can be used in talent management is the same way you can use simulation exercises to assess leadership. This method requires you to have physical (or virtual) locations, as well as various leaders and assessors that will be present for some time. What leaders typically see as drawback to this method is that it is not affordable and/or it takes significant time (Don’t get me started on the “reality” perspective either!) If your company can invest the same amount of money that has been invested for talent management and other managements to this method, this could be an excellent and shrewd decision. This is because leadership simulations methodology is intensely effective and expeditious. It also worth the money been as far as turnaround management initiatives are concerned.

Tip #3 Employee Engagement

Excluding direct observations of employees and arranging surveys of employees is another highly effective way to assess leadership for turnaround management. Companies can at any time develop questionnaires to gauge leadership effectiveness when it comes to employee engagement. This can also be done for turnaround management to see if leadership is the cause of the regression, or failure to achieve goal. This is effective for talent management in several different ways; It lets you know the employees that are improving. It also shares insight into prospective employees that might need additional support (new hires). Finally it could shed light on if resources are needed to increase employee engagement.

SUMMARY

In this post we’ve examined turnaround management and the opportunity for assessing leadership along with 3 tips. There can be various reasons why companies need to assess leadership, especially during turnaround management. Assessment tools, leadership simulations, and employee engagement are at the forefront.

Sam Palazzolo

PS – If you/your organization has challenges as a result of Turnaround Management activity, please don’t hesitate to drop me a line and request future post titles! Here are a few other titles that are currently in the works:

 

 

About Sam Palazzolo, Managing Director

Sam Palazzolo is Managing Director at Tip of the Spear Ventures, an agile Venture Capital and Business Advisory Services firm specializing in Mergers & Acquisition, Sales / Business Development & Turnaround Management.