Hyperion Solution’s Jeff Rodek on Retaining Employees During a Turnaround

Being honest with your employees is crucial during a turnaround, says Jeff Rodek, executive chairman of the board at Hyperion Solutions. Rodek should know. Chairman and CEO of Hyperion from 1999 to 2004, he led the software company through a turnaround marked by 12 quarters of improving performance during a declining technology market.

"Anything that’s a positive, you just want to talk about," Rodek told students in the Hyde Park Center on April 19. "But you have to be realistic and you have to let [your employees] know, ’this is going to be very hard. I hope you stay with us, but it’s going to be very hard and I need you to make a commitment.'"

During Hyperion’s darkest days, he said, "I would send out a one-pager every week, like a diary or a summary of a sales call, or something about the company that was going on. I also did a lot of location visits. I let people know that there was wide-open communication. I got a lot of responses, ideas, suggestions, and complaints,” Rodek said. "It helps build a strong culture."

 

Anthony Ruth