“Yikes,” Chloe winces, crossing the room and peering over my shoulder at the binder. “I knew things weren't great, but I didn't realize it was that bad.”
“Neither did I,” I admit, my optimism dampened. “Do you think we could tie this to our high employee turnover rate? Maybe if we focus on improving morale and reducing costs, we can turn things around.”
Chloe mulls it over, her fingers tapping on the binder's edge. “It's possible,” she concedes. “I know a lot of our best people have left because they felt undervalued or overworked. And, well, we have been spending a fortune on recruitment and training.”
“Alright, let's start there. We'll address employee engagement, cut unnecessary expenses, and get this ship sailing again. After all, it can't be all stormy seas, right?”
“Right!” Chloe agrees, her own smile returning at my contagious optimism.
I close the binder. It won't be a simple journey, but with the support of my dedicated team, I’m confident that Legacy Inc will weather the storm.
“Is it selfish of me to wish my father had told me about all this?” I blurt out. “I feel like they have thrown me into the deep end without so much as a life jacket. I could have helped before it got this far.”
Chloe put a hand on my shoulder, her touch gentle yet grounding. “It's not selfish, Dixon. It's natural to feel overwhelmed by all of this, and a little betrayed too. You have every right to be frustrated.”
“Thanks,” I sigh. “It's just... I can't help but think how different things might be if I'd known sooner. Maybe I could've made some changes, helped turn things around sooner.”
“Maybe,” Chloe concedes, a wry smile playing on her lips. “But you can't change the past—and besides, you're here now. And you'll do everything in your power to make things right.”
“Damn straight.” I turn away from the window, my posture straightening. “If I'm going to take charge of this company, I need to know every aspect, inside and out. No more secrets or hidden surprises.”
“Agreed,” Chloe nods. “I’ve been with this company for a decade and don’t want to see it fail.”
“Appreciate it,” I say, my gratitude genuine. It’s time to prepare. “Well, there's no time like the present. Let's dive back into those financials and see if we can't identify some more areas for improvement.”
“Already on it,” Chloe grins, her fingers flying over her laptop keys. “I’ve started pulling together data on employee satisfaction, too. I think you'll find it... enlightening.”
“Enlightening, huh?” His spirits lifting as we settle into the banter. “Can't wait to see what kind of Pandora's box that opens up.”
“Trust me,” Chloe winks. “You ain't seen nothing yet.”
Due to the recent information, I call a meeting. We are going to have to change some things if we are going to get back towhere we used to be, and everyone needs to be on board. If our numbers continue like this, we won’t be open for business in three years. I stand at the head of the conference table, my fingers tapping. The department heads sit around the table.
“Alright, everyone,” I begin, my voice strong and steady. “It’s time to create a plan of action to address the challenges we're facing.”
Unlike my father, who likes to keep things like this private, in this instance, they need to know. Without everyone chipping in where needed, this won’t work. If anything, I have learned that keeping employees in the dark about things only make it worse in the long run. When they are valued and are allowed to bring ideas to the table, they are more inclined to push through the hardships and come across the finish line more loyal than ever. I gesture to the whiteboard, where I have written the main issues: declining sales, increasing expenses, and high employee turnover. As I explain each one, the energy in the room shifting from tentative to determined.
“First, let's prioritize these issues. I propose that we tackle declining sales and increasing expenses simultaneously since they're closely related. We'll then focus on employee retention once we've stabilized the financial situation. Thoughts?”
“Sounds like a solid plan,” James chimes in. “If we can improve our financials, employees will feel more secure and be less likely to leave.”
“Great. Now, we need to set SMART goals for each issue,” I continue, my enthusiasm contagious. “For declining sales, how about increasing revenue by 10% in the next six months? And for expenses, let's aim to reduce them by 5% in the same timeframe. Will those work?”
“Agreed,” Andrew says, the finance director. “I think those are challenging yet achievable targets.”
“Perfect. Now, let's assign tasks to the appropriate team members.”
The room comes alive as we discuss strategies and delegate responsibilities. I watch the team rally together, each department head eager to contribute their expertise and ideas.
“I will be available for questions or concerns. No issue is too small right now.”
Katie approaches me as others are filing out of the room. “I just wanted to say thank you. We've all been feeling the pressure lately, but your positivity and clear plan of action have made a world of difference.”
“Thank you, but I couldn't do it without all of you. I know we can turn things around.”
Not everyone understands the importance of feeling valued, but that is where my focus will be. People leave companies because they are undervalued or underpaid. I want to pay them well enough to where they won’t want to leave. That is, if we survive that long.
6
