As the earth continues to move under our feet and the economy remains in free fall, with no bottom in sight, the leaders of every company must decide how they are going to react to an economic meltdown that happened to fast, was totally unexpected and cuts deeper than anticipated (i.e. lay offs exceeding 20% of the workforce): should companies hunker down and hope things will be okay or should they view this crisis as an opportunity to improve the organization? Companies determined to thrive in the current WorkQuake© will choose to be proactive and do what is necessary to make their organization stronger. When the economy improves – and it will – these proactive Companies will be positioned to take advantage of the opportunities presented by the purging of companies that could only survive in good times. Here are some recommendations for making a good Company better in a time of uncertainty:
1. Evaluate every Employee to discover the gaps in their training that need to be filled to create a High Performance Team Member. Then create a development plan for each Employee to fill those gaps.
2. Evaluate the Work Process/Flow in every department (using Core Employees in that department) to eliminate unnecessary/”busy” work and streamline the work process by identifying and eliminating barriers/bottlenecks to getting the job done more efficiently.
3. Improve Front Line Leaders through training & development programs.
4. Develop a new Strategic Plan based on “doing more with less and doing it better.” Then detail how each Employee can help the Company achieve the Strategic Plan. Employees want to help – let them!
5. Turn the Hiring Process into an Onboarding Process so when hiring begins again you get the right people on the bus.
6. Develop an appropriate Pay for Performance Plan for all Employees.
The Bottom Line: Hope is not a solution! This economic meltdown provides every company with the opportunity to start doing what it should have been doing before the recession. Organizations that miss this opportunity to improve the organization will be the real victims of this recession.
What recommendations do you have for making your company stronger in this time of uncertainty?
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