You are Silvia Bonomi, and today is your first day as Chief Executive of Forgiatura Emiliana, a precision forge in Modena. The workforce no longer feels the company is theirs, and a strike ballot closes in 45 days. Before you speak, spend or negotiate, you have to decide what caused it.
The situation
It is Monday 20 April 2026. For six decades Forgiatura Emiliana was "la famiglia": a paternalistic family firm, with long tenures and a workforce that spoke of it with pride. Two years ago a private-equity fund bought it, cut 220 jobs in two rounds, froze the profit-sharing scheme the family had run for decades, and went through two chief executives. You are the third, and the board has made clear that a third departure would be read as proof the company can no longer be led.
The first slide of your first day is one number: the workforce's identification index, 31 out of 100, against a sector norm of 60 and the firm's own 74 in 2021. Behind it are 1,850 people across two plants, voluntary attrition of 19% among the most skilled forgers (about €4.2 million a year in replacement), discretionary effort down 40%, and a lean-production programme stuck at 22% adoption.
The union has called a strike ballot that closes in 45 days; a walkout at peak demand would cost about €1.2 million a week. The board wants an 8% EBIT margin within 24 months, against 4.1% today on €310 million of revenue. You cannot raise wages across the board; you have symbols, words and a €6 million people-and-engagement envelope.