Midmarket Software Company Reinvents, Prepares for Growth
A successful middle-market software company found themselves with a 15-year record of success and acceptable financials. At the same time, they had not launched a new product or an upgrade in years, the culture was starting to lack the drive to compete in the market, and the workforce was unclear about and somewhat disengaged from the company’s mission.
The Founder CEO had recently hired a new CEO and moved to a Chairman role, exclusively. While the leaders prided themselves in a family-like culture and a flexible work environment, they saw teams losing their sense of urgency and competitive spirit, and customers began to feel this as well in slow turnaround times and a general lack of responsiveness. While margins and revenue were good, the senior team believed results could have been much stronger and were concerned about the Company’s ability to capitalize on market opportunities going forward.
An E.L.I. Partner guided the CEO and leadership team through a period of difficult but transformational change. Working with the Board and outside counsel, the E.L.I. partner helped the firm complete a reduction in force and deliver renewed, consistent leadership messaging and communications about the reinvented vision. The E.L.I. partner led leadership development and communications planning for two levels of leaders to build capability in leading and managing teams through change.
The organization swiftly and respectfully moved through this period of dramatic change and has re-engaged the workforce, quickly followed by customers and shareholders. They have a new mission and communications platform for their next stage of growth, an improved organizational climate and are enjoying strong financial performance.