We live in turbulent times.
Throughout the world there is the threat of conflict and uncertainty.
Whether it be trade or military conflict people are becoming increasingly nervous and the business community typically reacts with a fall in the share market.
It seems to be a domino effect whereby if one market stumbles then others seem to go out in sympathy.
Bad news sells newspapers and journalism often seems to delight in delivering a “doom and gloom” prediction.
So we in business start to think in terms of retrenching on staff and cutting back on developing people for fear of having to down size later.
We feel helpless and morale takes a hit.
Does this sound familiar ?
I say that it doesn’t have to be like that.
I say we need to break this pattern and in fact do more for our people.
In bad times the companies that have well trained and engaged people are the ones that thrive.
A by-product of this is of course if you do eventually have to down size wouldn’t it be vital to have the very best trained and engaged staff staying with you.
An accountant once said to me that during the Great Depression of the 1930’s there were still people opening up new businesses and looking for staff. Still people with optimism and drive.
The following is an extract from Imedia connection:
To begin, not all was doom and gloom during the Great Depression. It was a time when those who knew what they were doing made great economic strides, and the very nature of the Depression was an economic boon for them. It was a time when several companies benefited from aggressive marketing while their rivals cut back. A good example of that would be Kellogg besting C.W. Post during that time. Consumers didn’t stop spending during the Depression; most just looked for better deals, and the companies providing those better deals came out stronger after the Depression ended. When spending picked up, consumer loyalty to those companies remained.
So again I say invest in your people and get a head start on your competitors.
Of course the recession I speak of may not come. Let’s hope it doesn’t but also let’s prepare our teams to handle.
I leave you with one amusing quote
“An economist has about as much influence over the economy that a weather man has over the weather!”
Training and Engagement is the key.