Organizational change readiness practices of business turnaround change agents

This paper summarizes the findings of an investigation of 145 business turnaround change agents (TCAs) to determine (a) the period of time expected to improve the performance of failing companies; (b) the extent of fear of job loss and resistance to change by managers in these companies; and (c) the readiness practices employed by TCAs in preparing managers for the organizational changes necessary to effect business turnarounds. These TCAs indicated that they expected to reverse a negative cash flow in 60 days and to generate a profit in an additional 150 days. Furthermore, target group members feared job loss but paradoxically resisted organizational changes. Additionally, TCAs primarily employed personal readiness interventions including involving target group members. The implications of these findings and future research directions are discussed.