Undertaking transformations can take a toll on leadership. That’s why it’s important to regroup and reenergize for the second half to ensure success. Sarah Elk, a partner with Bain’s Results Delivery® practice, discusses the six questions leadership teams should ask themselves at the 12- to 24-month mark of transformations.
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Read the transcript below.
SARAH ELK: Transformations are tough. They can really take a toll on a leadership team. And usually at about the 12- to 24-month mark you need to take the time to reenergize for the second half, and have a good conversation with the leadership team, to regroup and make a game plan. Typically that involves answering a series of questions.
First would be starting with success. What have we achieved together? And that's collectively and individually. And taking the time to really appreciate what each member of the team has brought to you as an individual, and sharing that across the team.
Next is why did we start all of this? And reconnecting with the purpose and mission of the transformation and the overall ambition and goal for what the leadership team is trying to achieve. Also the teams need to reflect on what we've learned. How the team has grown together, but also what we've learned about the business and what that might mean for the second half.
In addition, it's important to acknowledge how the market competitors or customers have changed. And so the original plan that you had set out in the beginning may need some adjustments given how forces outside the company have changed. And then aligning on the goals ahead of us, and what are the priorities and things that we're going to take on as part of that game plan in the second half.
And lastly, it's the personal commitment of the team, and taking a moment for each member of the team to recommit to each other, because it's tough. Every leadership team hits a wall at some point in the middle of the transformation. And it's important to take the time to step back and reflect and reenergize on that game plan for the second half.
Every leadership team has its own dynamic, just as every CEO leads in his or her own way.