We have talked with Søren Thimmer, an experienced Transformation & Program Manager, to uncover the secrets behind driving successful turnarounds. With a dynamic international and commercial background at ISS A/S, Plus Truck Rental, and A-2 A/S, Søren’s approach is anchored in his core values: results, optimism, and integrity, with a keen emphasis on customer and stakeholder perspectives.

Søren’s career journey began as a Strategy and Change Management Consultant at Accenture. He then took on roles such as CFO and Business Development Manager, where he spearheaded significant change projects. In his most recent position as Transformation and Program Management Director at ISS A/S, Søren became the go-to “troubleshooter and change leader,” orchestrating large-scale international transformations and turnarounds.

What are the initial steps and considerations a company should take when starting a transformation process?

”You need to identify the type of transformation required and understand the ambition and underlying problem. You need to ask yourself what you are about to change. Are you in survival mode or are you doing ok but need to strategically move the business? It is a slightly different toolbox depending on if it demands an operational or strategical change. Most important is that the CEO needs to keep running the business and prioritize his/her part in the transformation, which of course also applies for other leaders in the company. If the skills for leading a transformation or turnaround is lacking internally, it is essential to get external support by engaging an Executive Interim Manager as someone needs to take the overall responsibility for the change, prioritize, set responsibilities, follow-up, etc. To succeed with a major transformation, it is key to be very transparent and communicate regularly.”

How do you lead the turnaround and communicate the transformation strategy to employees, customers, and other stakeholders in the best way?

“It is essential to listen to the people in the organization and to your customers. You need to inspire your colleagues, create hope and engagement by being honest and open, and explain why the change needs to happen and what the situation will be when it is completed, and everyone’s part in it. Set clear milestones and be aware of the different stakeholders and how to communicate with them. Talk to the heart and not only the head. Tell stories which connect purpose and people. It is impossible to win everyone, but you need to win the internal and external influencers. Be agile and flexible, as things always change during the way.”

What are the typical challenges that companies face during the implementation phase of a transformation, and how can they avoid them?

”The largest pitfall is to believe that the transformation is close to being completed as soon as you have the strategy and plan – there is a lot of work to be done! Don’t try to plan long-term details, you need to stay agile and flexible. At the same time, you must keep the daily business running. This is why it is important to have a dedicated leader for major transformations. Another pitfall is to not make decisions, you must be able to take tough decisions pretty quickly depending on what is best for the business short- and long-term.”

What are the key points in a successful turnaround?

“A successful turnaround requires careful planning, decisive action, and a clear focus on key areas that drive the most impact. Here are the essential points to consider when navigating a turnaround:”

• Define the Mission and Focus on Impact: Identify the right mission and focus on areas that truly make a difference. In a turnaround, prioritize the 4Cs: Cash, Cost, Customers, and Communication.
• Understand the Root Cause: The issues have mostly been present for a while and are known to the organization unless it’s an external shock. Assess the financial situation and pinpoint the real problem. Determine if the company is in immediate survival mode or facing long-term challenges. Avoid overanalysing – take action! The CEO must ensure that the right management team and competencies for the task are available.
• Balance Business Management and Turnaround Efforts: During a tough operational turnaround, it’s easy to focus solely on the crisis and neglect daily operations. Maintain balance, manage both the business and the turnaround, and prepare for post-transformation opportunities. While the 4Cs help you survive, other strategies are needed to thrive afterwards.
• Experiment to test ideas and figure out what works. It’s a great vector to engage the organisation, create visible results and lead it into the next phase.
• Clarify Roles and Responsibilities: Clearly define roles for both business operations and the transformation process. Engaging an Executive Interim Manager can be advantageous compared to a consultant, as the interim works within the organization, collaborating directly with the management team and taking operational action, rather than just offering external advice.
• Engage All Stakeholders: You can’t do it alone. Engage the entire organization and secure buy-in. Dedicate the necessary resources for this effort. Depending on the situation, involve customers, suppliers, and other external stakeholders to ensure comprehensive support and alignment.
• Be ready for the opportunities: Ask the “What will make us?” question as well as the “What will break us?” question. Be alert and ready to go, when opportunities appear.