How to Keep Your Company on Track During Major Disruptions

‘Designing Strategies’ eNewsletter

November – December 2008 Volume 5 – Issue 25

Regardless if you agree we are in the midst a full-fledged recession, or headed for a massive depression, there is enough major disruption occurring for almost any business. Consumers’ purse strings are drawn tight. There is much less spending, or at least far more cautious spending. Projects on the drawing board are being relegated to the back burner. Life has definitely become more interesting and challenging for business leaders, their employers, suppliers and customers. The question is: How can your leadership and managers keep your company on track?

What affect is the economic disruption having on your business? Did you make it through skyrocketing fuel prices a few months ago, only to find your credit sources drying up? If part of your business is retail, have your sales dropped off drastically? Is your outlook for normal year-end and holiday sales looking bleak?

Why You Need to Keep Your Company on Track.

Now, more than ever before, leaders and managers are challenged to keep their companies and employees on track. Every stakeholder needs to remain focused, on track and above the fray. Leaders need to maintain control, especially of their greatest asset, their human resources. Everyone can pick up their morning or evening paper, turn on the news or scan the Internet and see that the economy is a hot mess. Another major corporation is laying off hundreds or thousands of workers. Other companies are filing for bankruptcy and closing their doors.

These aren’t just little Mom and Pop shops or recent start ups going belly-up. Companies in serious trouble include major corporations that have been around for a long, long time. Stress and tension among our working population are at high levels. Will their company close or downsize? Will they have a job and a pay check? What can leadership do to ease those stress levels and keep your people on track? How can you motivate them to continue moving forward toward your planned goals for success?

What Can You Do to Keep Your Company on Track and Focused?

What can you do? As a leader, a major part of your job involves motivating staff. Now, more than ever, that skill is critical. Show confidence to your people that your firm is on solid ground. Convince them your company is on track, and that the economy will swing upward again. Communication is the most important skill you possess right now. Find something positive to share with staff on a regular basis. If leaders are not communicating with their people, something is going to fill that void. You can count on whatever fills the vacuum not being positive. Rumors and speculation about layoffs and downsizing, pay cuts and any number of issues that can dash morale will heat up. Don’t let this kind of morale killer take over your business. Inspire your employees, don’t just inform them.

Understanding and Motivation Can Help Keep Your Company on Track

Understand the stress your staff is under and try to defuse it. It is important to emphasize that you’re all in this together, and above all be sure that a them vs. us environment does not exist. Take advantage of employees’ fear and insecurity to pull out higher levels of productivity, creativity and innovation. Assign employees to task forces to look for creative solutions. This is no time to cut back on marketing and training. You can bet the economy isn’t going to change until it’s good and ready. Sitting back, wringing your hands and worrying, won’t to much to keep your company on track. Find ways to change staff’s ability to deal with today’s changes in anticipation of tomorrow’s return to a thriving economy. Train employees to deal with today’s challenges. Help them become what you want them to be when the economy picks up.

Wise words from Jackie Zehner:

Let Terri Help You Attract Customers and Fill Your Showroom or Shop!

Looking for a way to get designers into your showroom, or attract new customers? Consider one of our Business Success continuing education programs or a presentation on industry trends or other timely business topics. Popular programs in 2008 revolved around generational diversity – ‘Designing for the Generations’, ‘Market and Sell to the Generations’ and ‘Recruit and Retain an Age-diverse Workforce’.