Performance in a deep recession

Posted: March 3, 2010 in Consulting

Bunny
Staying in business in a deep recession is no walk in the park. In some sectors of the economy, demands are steadily going down and as a result, many companies are struggling to stay afloat while others are lining up to supply those lower demands. A business stays afloat by listening to its customers, paying close attention to the target markets, and making sound business decisions. One approach that managers use across the board in a recession entails putting together the right team (s), which is synonymous to creating smaller, leaner, and high performing units throughout the company. Subsequently, those lower demands in any given industry bring about lay-offs and even terminations. One of the most difficult tasks for any manager or a business owner is to let loyal employees go. Loyalty, in this context means fidelity to a working business model. No profitable enterprise in this new and insecure environment would use any capricious and arbitrary standards when dealing with this difficult process if they are to stay in business. To stay in business and to flourish often requires being on the cutting edge, providing good customer service, exceeding the expectations of customers, and unfortunately yes, sometimes making the unpopular decision of cutting down some of your labor costs.  Many employees will witness the first round of lay-offs and terminations and often wonder if they are next. How does any loyal and good employee protect his/her job?  First of all, a good employee should not confuse her good rapport with a supervisor and even knowing the owner(s) personally with business loyalty and outstanding performance. You should instead ask yourself the following questions: do I know the goals (e.g., dollar amount and units sold) of my department? Do I know the overall mission of the company I work for? What do I bring to the table? Do I make the company money? Do I go the extra mile? Is my performance outstanding? If you answer “Yes” to all those questions, you have more than a 75% chance of being retained by the company. Don’t get me wrong, office politics is very important but having the gift of gab and knowing how to play the game will not be enough to save your job. Performance, performance, performance … should always be the main focus.

One of the main reasons for choosing the pic of a registered nurse for this Blog post is due to the fact that the Medical field – i.e., mainly Doctors and Nurses – and the Information Technology industry were almost unscathed by the Great Recession of 2008. Please feel free to write more of your comments and questions directly on this Blog.

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