For the first time since the beginning of the pandemic, the Faculty of Economics at TU Dortmund University was able to personally bid farewell to its graduates on 20.5.2022. Christian Lützenrath, Managing Partner of TMC Turnaround Management Consult, was invited to give the evening's keynote address. Something the consultants at TMC are decidedly happy to do. "Because we know from the many restructurings we have accompanied in recent years: It is always the people who make the difference. Employees notice when they are seen and appreciated. If the management lives exactly what it communicates, then one or the other hurdle becomes surmountable - even in times of crisis."
Against this background, Christian Lützenrath explained that value-based management is by no means out of fashion. In the form of corporate responsibility, it is more modern than ever. In contrast to older models, however, employees should be involved in shaping the value construct at an early stage. Once the appropriate goals have been defined for the values, it is important to pursue them consistently, to concentrate on the essentials and not to be distracted. Not everything is ratio, one may also trust the gut, which does not mean to switch off the mind. Above all, however, it is important to see people. Treating employees with respect and appreciation. Encourage their talents and give them responsibility. And another tip from the restructuring consultant: If you don't like people, you may have to face a crisis in your company more often than other managers.