How it Works
The turnaround viability of the company is assessed prior to time and money being expended on processes that are likely to fail. A financial assessment compares the applicants weak points to similar businesses in the same sector. This assessment also identifies immediate crises that require resolving through a crisis management procedure.
Should the applicant company already be in significant trouble due to immediate threats such as liquidation by creditors, labour action by workers, termination of vital contracts or threatened closure by regulatory bodies, then immediate action must be taken to prevent the closure of the business or possible retrenchments until the turnaround processes can take effect.
Establishing the Future Forum
A key element of the Turnaround Solutions Programme, the Future Forum, is a committee established to bring together management, employees and union representatives in a manner that enables structured and open discussion between all parties regarding the issue of job retention. In this forum stakeholders collectively identify problem areas and formulate and debate strategies for saving jobs and even the company itself. During this process Productivity SAís consultants provide technical assistance in areas such as financial, marketing and operational management.
Once the organisation has been stabilised and the threatened jobs secured, the Future Forum institutes Early Warning Systems and meets regularly to identify emerging problems, formulate appropriate responses and if necessary, develop turnaround or redeployment strategies. This level of interaction between all stakeholders also ensures that the organisation is in a position to motivate for support in the form of government funds to subsidise further consultations or interventions.
Capacity Building is an integral and very important aspect of the programme process. This is done to ensure that the members of the future forum are empowered to contribute meaningfully and have an understanding of business operations and what will make an organization profitable and sustainable. Future Forums undergo a full days training and productivity champions are trained for three days.
Productivity Champions Training
The modules that will be covered are introduction, Productivity, Organisation Performance, etc.
At this stage the organisation and its appointed consultants assess the root causes of the organisationís difficulties and develop appropriate turnaround or redeployment strategies.
Roles are allocated and the agreed strategies are implemented within the ailing organisation.
Productivity Sustainability: Keeping Programmes on Track
During the interventions in-house Productivity Champions are appointed to ensure that the improvements are monitored and maintained. Productivity Champions are rigorously trained are issued with detailed Productivity Champion Manuals containing comprehensive productivity tools and techniques. Productivity Champions drive the productivity and quality aspects of production and/or service delivery, as it may be. They will continually monitor and measure relevant activities and will regularly report results to the organisationís management and Productivity SA.