The business landscape appears to be changing by the hour.  Companies feels that they are no longer just working to achieve profitability, they are now concerned about struggling for survival. Most executives talk of being in crisis mode. Sales and revenue are predicted to plummet as consumer spending is drastically curtailed. Business activity has already taken a severe hit. Capital investments and large-scale projects will be or have been postponed or canceled. Executives fear being fired by their boards.  Workers fear layoffs.

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Stabilize Your Company



A good economy can hide organizational problems.  A good economy will allow many companies to tolerate a lack of teamwork, poor leadership, sloppy management practices, underproductive performers, undisciplined sales people, product defects, poor customer service, ineffective product research and development can be tolerated when revenue comes it.

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You can’t ignore or avoid problems in a bad economy.  Every decision and action, good or bad, is magnified and scrutinized.  The effects can be widespread.  As a result, in a bad economy, there is the temptation to pull back and slow or shut down parts of the business.

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The Real Problem

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As when driving a car in snow or ice, the temptation is to swerve by turning away from the skid.  In water skiing, when you sense danger, there is a temptation to pull you arms in.  In snow skiing there is temptation to lean backwards.  In all three instances, you lose control, swerve, and crash and/or fall down.  When skidding on the highway, the counterintuitive thing to do is to turn into the skid.  In skiing, the right thing to do is to lean forward, rather than leaning back.   Leaning in will keep you upright or afloat.  Pulling back or away is a panic reaction and will invite failure.

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In tennis, when you encounter a hard-hitting opponent, the natural thing to do is to back up to the baseline; or, if you are at the net, to move back to the service line.  However, what coaches teach is to move up to the net to defend a hard hitter.

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A good economy will allow you to get away with much sloppiness, lack of preparation and discipline, and lack of accountability.  A bad economy will force or highlight errors.  In a bad economy, there is the temptation to swerve and get out of your lane.  Make sure your company stays in its lane and avoids the swerve and skid.  Before you swerve, anticipate and get prepared.  Make sure that your organization understands, plans and acts with the knowledge about what we know about panic and overreacting.      

  

What to Do?



Do the counterintuitive for your organization and learn to overcome your basic instincts to pull away from danger.



You may not be able to pay your employees more right now and you may not be able to promise year-end bonuses, but you can keep your employees focused and productive and maintain high morale during these uncertain times by developing their skills in a meaningful manner.

The economy will turn around, but bad times will be here for a while (economists are now saying 2014). Be ahead of the curve and invest in the future of your company.  Demonstrate your commitment to your employees and the organization by systematically preparing for the future.



Performance Vertical understands the pressure, the demands, and the stress of weathering the economic storm and the uncertainty that it brings.  We are ready to assist your company to deal with this new landscape.  Our training and consulting services can get your organization ready for the turbulence.