2009 is predicted to be one of the worst years in recent memory! But, to quote economist Paul Romer, “A crisis is a terrible thing to waste.” So, rather than hoping things will get better – never a solution to a problem-, take advantage of the opportunities this crisis gives to improve the way the Company manages its Human Capitol. Begin the process with:
THE 2009 TOP TEN TIPS FOR EMPLOYERS
IN THE WORKQUAKE© OF THE KNOWLEDGE ECONOMY
“WorkQuake© – A convulsion in the World of Work, caused by a shift in the fundamentals of an Economy, rendering the Business World and Work Environment virtually unrecognizable to those working in the transition period between an old Economy and its replacement Economy. The current WorkQuake© is occurring between the Industrial Economy and the Knowledge Economy.”
- The Knowledge Economy Formula for Success: Doing More With Less & Doing it Better!
½ X 2 X 3 = P(2): ½ the Workforce (get rid of the The Others & Temporaries who will not become Core Employees) – Paid Twice As Much – Producing 3 Times As Much = Profit and Productivity (credit for this formula for success in the WorkQuake© goes to Charles Handy).
- It’s the Core Employees: In the hyper-competitive environment of the Knowledge Economy (rapidly expanding technologies, global competition, higher customer expectations) every Company must distinguish itself in the marketplace based on Service. A Company’s Core Employees provide the Essential Service Differential.
- Hire Core Employees & Temporary Employees, But Retain Only Core Employees: Core Employees are your “Talent”. Core Employees are indispensable to your business because they have the skills and attitude necessary to make your Company a High Performance Organization. Temporary Employees have the potential to become Core Employees. Temporary Employees who do not become Core Employees become The Others.
- Eliminate The Others Now: The Others are Employees who should have been fired yesterday.
- Keep Your Core & Temporary Employees Happy By…
- Train & Develop Core & Temporary Employees: Give Core & Temporary Employees every opportunity to learn new skills and competencies to make them more flexible resources.
- Reward Core & Temporary Employees: Align Performance Pay with the Company’s Goals. Reward Core & Temporary Employees with Performance Pay when they use their skills to help the Company achieve its stated Goals (see #1 above).
- Recognize Core & Temporary Employees: Double, triple, quadruple the number of “atta boys/girls” for Above & Beyond Efforts by Core & Temporary Employees.
- Engage Core Employees: Make Core Employees an integral part of the organization by asking their opinions and implementing their ideas. Give Core Employees more Control over their work.
- Prepare for the Next Economic Boom/Bust Cycle: The WorkQuake© of the Knowledge Economy makes the workplace inherently unstable. Prepare for it and learn to live with it.