Common Response to Economic Downturn
- Survival Mode
- Control
- Panic
Leadership Response to Economic Downturn
- Opportunity
- Involvement
- Focus
Survival Tactics
- We Have to Stay Afloat
- Eliminate headcount
- Decrease Development I Training
- Control Expenses
Impact
- Employee cynicism
- Sacrifice long-term growth capacity
Leadership Approach
- Opportunity to Improve Efficiency
- Upgrade the workforce, manage out poor performers
- Focus on strategic cost-cutting – process re-engineering vs. paper clip counting
Impact
- Employee commitment
- Sustained long-term growth capacity
Author: Jonathan Webster
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