Posts tagged as:

Corporate American

“Getting Real” in Today’s Economy

June 24, 2009 · 0 comments by Terry Lauter Comp

in Business Strategies, Economy, Employee Communication, Management, Supervisory/Leadership Training

comm We’ve all seen the headlines, and heard the very real reports of salary freezes, forced time-off, and 401(k) matching “vacations”, not to mention lay-offs and closures. Clearly, many companies and their employees have been significantly impacted by this current recession. While we are beginning to see light at the end of the tunnel, experts say that we can still expect some months before the employment picture improves significantly. Still, there is no better time than NOW to start thinking about lessons learned this time around, and how we can be better positioned for economic downturns in the future.

What have we learned? One lesson that comes quickly to mind is that most organizations have simply not prioritized educating their employees about the financial realities of their business and their compensation and benefits costs. Organizational leaders may have any number of compelling reasons for this omission, but the truth is that they are all excuses. Sacrificing the urgent for the important usually catches up with us, and catch up it has.

So… better late than never! Here are a few things you can do in 2009 to start turning the tide. A well-informed workforce is not only important because people will be less apt to complain, it is essential because these are the people who will provide the engine for your turn-around. In this era of reality-entertainment driven by a hunger for authenticity, it’s time to get real. Take the time to clearly and honestly communicate:

Your short-term financial goals for the business
The specific things individuals in different roles can do to drive goal achievement
Where you have made significant cuts in expenses, and why
Why you are continuing to invest in people via your compensation plan, and how much money you spend in that plan annually
Why you are continuing to fund Benefits, and how much you spend on those programs

These are just a few of the facts that employees definitely need to learn. Unfortunately, it wasn’t urgent until now. What else is more important than ever before? Take the time this year to “get real” with your team. It’s that important!

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Working Smart: Focusing on the Vital Few

May 22, 2009 · 0 comments by Larry Comp

in Business Strategies, Management, Performance Development, Supervisory/Leadership Training

paretochart1 We all see so much wasted time at work, that I am always amazed to hear that the U.S. is one of the most productive nations in the world. Busy-ness seems to be replacing effectiveness as people go to endless meetings and spend hours sending and receiving emails.

Every once in awhile, I have to remind myself of the Pareto (80/20 Rule) Principle that states that 20% of what you do contributes to 80% of your effectiveness. You can apply this principle to various aspects of your business. For instance, 20% of our customers yield 80% of our revenue and 20% of our customers yield 80% of our profit, but not necessarily the same 20%.

We have a small group that meets at our home on most Sunday evenings. Last week, we all admitted that we seem to get wrapped up in busyness and are far less effective than we could be.

How are you spending your time? Are you focusing on the vital few areas that make the biggest impact…or on the trivial many?

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Getting Everyone on the Same Page

May 15, 2009

Over the years I have noticed that most companies do a pretty ineffective job of strategic planning. We all know how important strategic planning is to the long-term viability of an organization, but what’s really going on here? Well, many organizations never seem to get around to tackling this critical function. Others take a handful [...]

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Peter Drucker Nailed It!

May 13, 2009

Several years ago, I had the privilege of hearing Peter Drucker, the “Father of Modern Management,” speak. At the time, he was already very old and nearly deaf, and didn’t seem to realize he was almost speaking in a whisper. The audience, however, was in total awe…and you could have heard a pin drop. I’ve [...]

Unlearning Lots in A Brave New World

May 11, 2009

You could easily accuse me of being a bit “over the top” about lifelong learning. I practically live for new books, new ideas, stories and concepts that I’ve never been exposed to before. Truly, I belong to the “cradle to grave” school of philosophy about the importance of continuously taking your education to a new [...]

Be a Value Builder

May 8, 2009

Several years ago, I was reviewing some Audio Tech Book Summaries and learned that organizations tend to fall into 4 operating profiles. These profiles are largely influenced by the Chief Executive.
The first profile is Underperformer and this is the worst. In this case, the organization lacks adequate focus on revenue growth or cost savings.
The second [...]

Key Business Strategies to Fuel Your Growth

May 6, 2009

Some organizations seem to operate without a business strategy, while others have way too many. We have guided many of our clients to focus on a half dozen, specifically:

Focus on profitable growth. Seems pretty basic, but it’s amazing how many companies experience declining profits, while their businesses are actually growing!
Start with the market and work [...]

What Can the Grateful Dead Teach Us About Business?

May 4, 2009

Each morning, when I turn on my computer, I am greeted by a new inspirational quote. Most of these are thought-provoking and I have saved hundreds of these gems over the years.
Surprisingly, one of my favorite quotes comes from Jerry Garcia of the famous 60s Rock Band: The Grateful Dead. I’ve seen a number of acts over [...]

People over Projects

April 22, 2009

In times like these, we sense that the natives are restless in Corporate America. It seems that most everywhere, employees at every level are afraid to exhale. Many say that they are experiencing paranoid thoughts each time they see managers and execs meet behind closed doors, or hear tidbits eluding to bad sales numbers or [...]

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Peter Drucker Nailed It!

Unlearning Lots in A Brave New World

What Can the Grateful Dead Teach Us About Business?

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