Prepare for the Good Times

I don’t know about you but I am now turning the radio off to avoid the media’s attempts to convince me that “the end of the world is nigh” and “we are all doomed”.  The people doing the same at Speakers Corner never convinced me and just because it is being done with modern media does not make it any more plausible.

Let’s face it things will improve and the real question is not when will they improve, but will your business be there to enjoy it? Or will you have fallen into the arms of the administrator or been acquired by a competitor?

I listened to a government minister on the radio the other day who said that they had statistics that showed that those businesses that continued to invest in their people during a recession were 2 ½ times more likely to survive the recession and come out the other end stronger than they were at the start.

Now I admit that I am not a great believer in Government statistics or the spin of ministers, but since he had nothing to gain in terms of votes from saying this, I paid a bit more attention.  It also reflects empirical evidence that I have observed in my 31-year career (ouch that hurts, 31 years since I was a fresh, cheeky and innocent graduate!).

This afternoon I was writing the latest Chapter for our Survival Kit for Sustainability (see our website) and I realised that there were certain things that businesses really need to do to prepare for the good times.

What follows is not exactly what I wrote in the Chapter this afternoon that would be far too lazy!

So what do you need to do?  How can you continue to invest in your people when the cash is tight? What follows are merely headlines with a few thoughts, but do feel free to get in touch via email – chris@changemakerweb.co.uk

1)   Make sure that you people actually believe that the good times will come.  If you have already had to restructure your business and let people go, those who remain are probably sitting there in state of fear.  Hardly the recipe for productivity.  They are almost certainly not “grateful that they still have a job” so what are you going to do to lift them up and get them focussed again.  This takes more time and not a lot of money but it is a big investment.

2)   Sort out your business.  In times of growth, businesses tend to become “fat, dumb and happy”, with inefficient processes, dysfunctional structures, and poorly defined roles and responsibilities.  After all when the revenue is high it is often more about just getting things done rather than getting smart.  Your people have probably been frustrated by these inefficiencies for ages but they have never had the time to stop the bus and sort it out.  Now they may have so do it now and then, not only will you retain more of the revenue that you create today but also you will be able to fly when things get better.  As you spend the time with them discussing their brilliant ideas they will see that as a big investment.

3)   In the same way that businesses get complacent about processes, it is also true that they can suffer from culture creep.  It is noticeable that successful companies create dependant cultures in which the business does ever more things for employees in the hope that this will create loyalty in a positive labour market.  Take a hard look at the terms and conditions you have created in your belief that it will make you an employer of choice and sort it now.  Now this may sound counter intuitive.  Is he asking us to invest less in our people I hear you ask?  No I am merely suggesting that you stop wasting money on things that they do not see as an investment anyway!

4)   Use your own internal consultants.  You remember those heady days when all of your people were so busy that you had to bring in external consultants to help.  Well you may not be able to afford external consultants at the moment but things still need to change.  So appoint your own team of internal consultants.  They may need a bit of support and training, but at least they really understand your business! The skills that they develop will be an incredible investment.

My time is a bit limited today because I am preparing for a trip to China, Japan and the USA so I apologise for a lack of detail but do please email me if you want more.

On a totally different note.  I hear that our Members of Parliament, yet again want us to excuse them the administrative challenges of submitting a proper expense claim every month and only having to submit receipts for items worth £25 or more.

I understand their point of view, I hate the balls aching admin. myself but I have to do it to meet the demands of the tax authorities that are carrying out the laws that these same MPs oversee.

Do they not recognise that this is not an administration question, it a Leadership issue.  People who purport to be leaders should have the humility to accept even higher levels of scrutiny that those that they apparently lead!

And the book recommendation. Not the best month for reading, Christmas was a good excuse to submerse myself in loads of “trashy” thrillers and so this month it is not a book but a DVD in fact two DVDs. 

The War on Democracy by John Pilger, disturbing, eye opening and all I can say is that Barak Obama is right about one this, it is indeed a time for a change. 

Déjà vu by Crosby Stills Nash and Young, to be played at volume 11!  A docu tour review of their tour in protest at modern conflicts, top stuff and a more than a few scary Americans!