Today all companies, not just in our industry are having to tighten their belts to ride out the financial tornado that is currently gobbling up the globe, but what are businesses doing to get through?
The immediate reaction is always to cut overheads, I myself have been with 2 corporates who have slashed staff as if they were letting out bath water and seen managers protect their own position at the sacrfice of others, but at the top of the ladder are these cuts made with enough understanding of the long term damage? Do they come with cost reduction & survival or growth & survival in mind?
For all companies out there it may well be necessary to have staff reductions. It’s only natural that in good times jobs are created to lighten the burden on others and when times are tough these positions have to go. But how many of you or the companies you work for are communicating what you are doing to ensure growth in a declining market? How many of you have communicated your strategy in a clear and concise manner to ensure complete understanding and the support of your staff?
- Create a growth plan and ensure targets are generated that are realistic.
- Remember that companies are social networks and if the communication isn’t coming from the top to everyone then it will be filtered and diluted.
- Be sure you have the right people that are supporting your business for growth in your management positions.
- Remember that growth ideas can come from anyone in the organization, don’t always expect it from your managers.
- Be sure you understand your market service offering and the people selling for you know what they are selling!
Don’t just back off into the corner, get that plan together and communicate it then ACTION IT!
Author: Gary George
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