Troubled UK-based global contracting giant Balfour Beatty has called in an American firm of business gurus to work with 2,500 senior staff as it tries to fight its way back to financial health.
Ohio-headquartered training and consulting firm TableForce said yesterday it had been selected to deliver "customised commercial skills workshops" and "other learning assets" to the professional staff of the listed contractor.
Last month shares in Balfour Beatty fell after it warned investors that its 2015 results would be hit by a shortfall of between $180m and $230m.
TableForce has been a proven partner over the years, helping my teams ‘raise the bar’ on overall performance– Leo Quinn, Balfour Beatty chief executive
It was the seventh profit warning in two years, and came as new chief executive Leo Quinn continues a comprehensive management shake-up to steer the contracting giant out of its malaise.
TableForce is well known to Quinn, a reputed transformer of struggling corporations who took the helm at Balfour Beatty in January this year.
He used the firm, which specialises in negotiation training and life skills, during his tenure at four previous companies, including QinetiQ, where he was also chief executive.
"TableForce has been a proven partner over the years, helping my teams ‘raise the bar’ on overall performance," Quinn said.
"Furthermore, TableForce is part of our current Build to Last initiative, as both an expert and trusted advisor."
TableForce said the multi-year training initiative is expected to advance the commercial skills of more than 2,500 Balfour Beatty staff within all "outward facing roles" across the organisation, including purchasing, sales, project management and contract management.
Every business unit and operating geography will receive the training.
Photograph: Balfour Beatty group chief executive Leo Quinn used the training firm while at four previous companies (Balfour Beatty)