Giving Your Company Permission to Prosper

Happy New Year! As we welcome 2009 and bid farewell to 2008, many leaders are still left with the carnage from last year's economic disaster that has left every company affected in some way. From layoffs, bankruptcy filings, Wall Street and Auto industry government bailouts, the economy has taken a severe beating over the past year. With such high-profile economic blows happening one after another it is likely that your employees are feeling some of the repercussions, whether in their wallet, emotionally, or both.

Luckily, we're in for a new year and a new start. Perhaps your organization faced challenging times in an adverse business climate in 2008 and was forced to layoff some of your workforce and now remaining employees remain guarded and concerned for their jobs. Or, on the other hand, maybe your company was not faced with making cutbacks, but had to make some other financial concessions to avoid seeing red on your balance sheet. Whatever the case, good or bad, employees in comparison to other economic downturns are feeling unsure of their employment
future, which ultimately leads to unfavorable productivity, impacting your bottom line.

Continued...

As organizations large and small alike face the economic future with caution, it is important for long-term business success that companies consider what they can do to ease employees fears, boost morale, and maintain productivity. In particular, those companies who are thoughtful in their approach and manage their employees to use the downturn as an opportunity to advance their interests will overwhelm their competitors; especially when you consider that most companies are looking to survive, not thrive, giving your company the ultimate advantage to prosper. When companies such as FedEx and Burger King were started no one anticipated that they would be as successful as they are today. Why?
Because they were both founded in a recession, when all odds are against business, especially new ones. While there are many different attributes that have led to their success, no one can deny that their employees have had a major hand in getting each respective corporation to where they are today. Similarly, as a leader in your company you are responsible for inspiring commitment to a company vision amongst your employees and leading them through execution of that vision.

Continued...

Leadership is a difficult job under any circumstances, but particularly challenging in times of economic woes. So as we enter a brand new year, it's time to come out from hiding underneath your desk, take a deep breath and recognize that how you act and respond today to economic conditions will reflect where your company will be in six months, twelve months, five years, and so on from now. As a leader your constituents are looking at you for answers. While you may not have them immediately available, remember to maintain morale and reinforce the company vision so people understand their purpose for being at the organization. And, if possible, try to involve your employees in resolving challenging problems facing the company as their participation will win their affection and appreciation, leading to increased commitment to company goals, happy customers, increased productivity, and ultimately the perfect black balance sheet.