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Posts Tagged ‘recession’

You Are Not The Only Game In Town

Saturday, August 14th, 2010

Remember the soup nazi in the Jerry Seinfeld television series? His soups were so good that he could dictate who he would serve and who he would send away. He owned that market. He didn’t have to listen to what his customers said – they bought what he sold.

Fast forward to 2008. General Motors, Ford, Chrysler were making cars that few were buying. An economic recession reminded them that the products they make must meet the needs, values and interests of those they hope to sell to. So if you don’t want to make a car that gets exceptional gas mileage, includes the extra safety features important to your customers, or carries a cost that is prohibitive, then customers will go elsewhere. And they did.

In the August 13, 2010 New York Times article, “Detroit Goes From Gloom to Economic Bright Spot,” writer Bill Vlasic stated, “Detroit has vowed to change before, slimming down when sales slumped or pouring resources into vehicle quality to catch up to foreign competitors. Many auto analysts say the current makeover has a more permanent feel, largely learned from the near-death experience of last year’s bankruptcies at G.M. and Chrysler.”

This is just one industry where customer disconnect and management hubris sent the large players falling. What matters most are the lessons learned; here are several of the most important:

1. In a connected world, you are never the only game in town.
2. Always know your customers – what they want, need and value.
3. You earn the privilege of serving your customers by knowing them well, responding in an exceptional way, and by standing behind your product or service.
4. To be retained, employees must add value and make a difference; there is no right to employment – it must be earned.
5. Strip the excesses from the business – run lean, efficient and effectively.
6. Develop a “here today, here tomorrow” mentality; be strategic.

In today’s world, a company must stay connected its employees and customers, and all products or services must be responsive and responsible. We are rarely the only game in town. That is okay – it forces us to improve our game and constantly focus on greatness.

Please forward this to someone who can benefit from it and contact me to help you activate your employees to create sustainable value for your customers and organization.

Tags: auto industry, business failure, business strategy, Chrysler, customer loyalty, employee loyalty, employee motivation, Ford, G.M., management, recession, survive the recession
Posted in For Managers | No Comments »

A Recession Thank You Note

Monday, May 24th, 2010

Dear Recession,
I know many people are upset with you. I am not surprised. You have made things tough for many organizations. But at the same time you have made us better. So here are ten things I wanted to thank you for:

1. For forcing us to get rid of the deadwood and the non-performing employees who felt all they had to do was simply to show up for work.

2. For the reminder that we are stronger and more profitable in some areas of our business than others, and that we should always focus on our strengths because they provide the greatest value to our customers.

3. For helping us to relearn the value of customers and the need to focus on customer loyalty, not merely satisfaction, and to never miss an opportunity to do the extraordinary.

4. For reminding us that our people are our profits and that fewer of the “right” employees can consistently outperform more of the “wrong” employees. Fit matters and a greater effort to hire and retain the right employees drives greater results.

5. For a reminder that we must support an employee-focused workplace to be capable of creating a customer-focused workplace. We now are better connected to our employees’ talents, values and interests; we know them better and can better match them to their best performance areas.

6. For the reminder that every employee must add value or they are not needed on the team; all employees are now held accountable for results, ideas and solutions.

7. For forcing us to eliminate the barriers to communication, so that information can move more freely around the organization to accelerate action and responsiveness.

8. For reminding us that we (management) must be more visible, more human, more approachable and integrated in the performance of the employees; constant contact is critical to building strong relationships with employees to earn their loyalty and to know how to activate their performance.

9. For reminding us to use our employees to stay connected to our world through their worlds (social networks) as a means to grow and develop the business in a meaningful way.

10. For the lesson that even when things are tough, employees who are valued, respected and believe in what we stand for, have the reserves needed to pull through and do the extraordinary.

I have learned many valuable lessons that somehow got forgotten in better times. You have reminded me to watch the details, own the results and inspire my people. Though I don’t need this lesson often, I am pleased to have learned it today.

Best regards,
Jay Forte

Please forward this to someone who will benefit from it and contact me to help you reactivate the performance power of your people.

Tags: business survival, employee engagement, employee performance, great managers, lessons, millennial management, recession, resilient organizations
Posted in For Managers | No Comments »

Broke, But Not Poor

Thursday, April 15th, 2010

The recession has created some of the toughest times many of today’s younger generations have lived through. But there are many older people who have lived through tougher times. They have learned how to survive and thrive in challenging times.

Suzan Colon shares in her great book, Cherries in Winter, the stories of how her family has weathered tough times, and how these responses are meaningful in helping us stay focused, healthy and confident in our period of uncertainty and change. Her grandmother used the phrase, “broke, but not poor.” Broke meaning times are tough now – but this is temporary. Poor refers to something more permanent. It was her way of saying “we’ll do what it takes to get by, then we’ll get better.” Realistic and optimistic. Wisdom for real life.

Tough times remind us that all things come and go, increase and diminish. So in the down times, what are your traditions or techniques to raise your spirits and keep you sane, healthy and appreciating life? What stories and wisdom do your older relatives share about how to weather tough times and retain your appreciation for what you have and who you are?

Here are tips from seniors who have learned how to be “broke, but not poor:”
1. Spend just a little on a treat every now and then. Make it a celebration.

2. Share what you have. It connects you at a deeper level and helps remind others to do the same.

3. Redefine value as experiences instead of things. Make a point of socializing more with friends and family. Share stories.

4. Say thank you more. It helps you see what you have instead of what you don’t have.

5. Get up and get moving each day. Start each day with a clear purpose and a personal sense of value.

History does seem to repeat itself. Some of its greatest lessons are still meaningful for us today. Many of our older relatives have weathered storms significantly more difficult than today’s. Their wisdom is timeless and guidance is priceless. Most times we don’t need to reinvent things – we just need to check in with those who have had experience with handling life on life’s terms.

Please pass this on to someone who can benefit from it.

Tags: be happy, Cherries in Winter, family history, grandparents, Live fired up, recession, survive the recession, Suzan Colon, tough times
Posted in For Employees, For Individuals, For Managers | No Comments »

Get Employees Off the Bench and Back Into the Game

Sunday, April 11th, 2010

If you played sports, remember when you got hurt in a game? Your coach told you to shake it off and get back in the game. Well this is the situation in the workplace. Employees have been hurt by the recession – their paychecks, their opportunities, their stability and their egos. And instead of shaking it off and getting back into the game, they have gone to the bench to wait things out. Today’s employees have been scared away from exceptional performance in favor of just playing it safe.

The Global Workforce Study (conducted by the global professional services company Towers Watson) – a biennial survey of employee attitudes and workplace trends – confirms that the recession has changed the way U.S. employees view their work. In the past, job opportunity, relationship with management and development drove employee performance and loyalty. Today, employees just want job security.

As summarized in The Last Word column by John Hollon in the April 2010 issue of Workforce Management Magazine, “(The survey) paints a picture of an American workforce that is hunkered down, risk-averse and hanging on as long as they can – until, they hope they can afford to retire.”

So I have to ask. What happens to our businesses if we allow employees to hunker down? Isn’t our success built into the clever, wise, risk-taking employee responses that invent, grow and create the next generation of products and services?

Your new challenge is to find ways to help your employees get their mojo back and get out of hibernation mode. Here are some ideas:
1. Reconnect with employees. Increase your presence, communication and responsiveness with employees. Be more available.
2. Clearly define or redefine the focus of the business. Be sure all emloyees are aware of their expectations.
3. Build in more fun. Tough times require a different response. Commit to more fun and a more personal workplace.
4. Deal up front with issues. Host a monthly meeting to bring challenging and troubling national, local and personal issues up; ignoring reality stalls employee performance.
5. Ask employees what they need to help re-energize and reactivate their performance.

Today’s managers are required to deal with more human and emotional employee issues – because they impact performance. Use the resources presented in www.LiveFiredUp.com to help you learn how to manage in an intellectual age, help employees overcome their fears of an unstable economy, and get them back to working in a way that builds a stronger company and economy.

Please pass this on to someone who will benefit from it.

Tags: employee fears, employee motivation, employee performance, marshall goldsmith, mojo, recession, recession impact on employees
Posted in For Managers | No Comments »