leadership incorporated blog

June 5, 2009

Devastating Mistakes Businesses Make in this Economy: #5

Not realizing that the landscape has changed and the opportunities have moved. There are more opportunities now than ever before, because there is more need now than ever before. However, the terrain has shifted and opportunities are not always visible, are not where we’re used to seeing them, nor do they look like the opportunities of the past. The companies who will succeed in this new era are those who will be able to continuously adapt. It is essential that leaders develop their ability to see possibilities, their readiness to seize opportunity and their commitment to provide meaningful service and products to this rapidly changing marketplace.

Solution: Leadership training, coaching and consulting
can help business leaders to broaden the corporate vision, get new perspectives for the best use of current resources, and set, communicate and inspire subtle and dramatic shifts in direction for the future.

June 4, 2009

Devastating Mistakes Businesses Make in This Economy: #4

Filed under: Uncategorized — inspiredtosucceed @ 7:30 am
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Confusing expenses and investments. The path to success in this economy is not paved with savings. Yet, companies are freezing budgets unilaterally, not making the necessary distinction between consumable expenditures, which deliver short-term benefits, and investments with the long-term power to create future business. Businesses that come out intact on the other side of this recession will have figured out how to adapt and build for their future.

Solution: Evaluate expenditures based on potential ROI, rather than on cost alone.  Seek out products and services, which will increase the value the organization provides, as well as its visibility.

June 3, 2009

Devastating Mistakes Businesses Make in This Economy: #3

Forgetting that current employees are the ones who will deliver future success. Studies show that after a reduction, there is a predictable and significant decrease in productivity. Errors and mistakes increase. Morale declines while conflict and tension rise. Customer service drops which leads directly to drops in client retention. Yet, most companies do little or nothing to support their retained employees — instead demanding more, and requiring they take on tasks and responsibilities for which they may have no training….and all for less reward. Hardly a recipe for motivation or corporate recovery.

Solution: Offer customized group workshops, individual coaching and other programs that value, empower and support employees through the transition. These may include but aren’t limited to: the opportunity to process feelings resulting from the layoff or current conditions, development of time and stress management skills, communication skills, and  specific customer service and sales training that solves the problems posed by current economic conditions.

June 2, 2009

Devastating Mistakes Businesses Make in This Economy: #2

Forgetting the impact exiting employees have on the well-being of the company. Businesses can’t afford NOT to transition exiting employees. Why? • Disgruntled ex-employees can do a lot of damage to current client relations and retention, not to mention undoing all the time and money spent on building a positive corporate image. • The cost of litigation will always far exceed the preventive investment in outplacement. • Productivity of the survivors is dramatically affected by an insensitive layoff. • In times like these, a business needs its retained employees to rebuild. An insensitive layoff can cause them to jump ship or undermine from within. • A relatively small investment in a smooth transition can prevent much greater costs.

Solution: Retain external offboarding support. In general, employees who are leaving do not want to have conversations about their futures with internal employees and will often not take advantage of internal programs.  While large outplacement firms may be better able to service large numbers of employees, smaller firms can deliver more personalized service for a significantly smaller investment.

June 1, 2009

Devastating mistakes businesses make in today’s economy: #1

Cutting with a blowtorch instead of a laser. In the epidemic rush to cut staff, it’s shortsighted to let essential talent go. As a result, over 50% of workforce adjustments do not achieve their intended objectives. Too often, the company finds itself without the resources to recover and build for the future.

Solution: Think before you cut. Don’t automatically assume that a layoff is the best way to reduce operating costs. And don’t offer incentives for leaving. The best people will go, knowing they can find other work. The weakest will remain.

Sharon Rich is the founder of Leadership Incorporated and Layoff BounceBack. Her companies offer coaching and training programs designed to empower organizations and individuals in transition to create successful futures.

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