Common Response to Economic Downturn

 

  1. Survival Mode
  2. Control
  3. Panic

 

Leadership Response to Economic Downturn

 

  1. Opportunity
  2. Involvement
  3. Focus

 

Survival Tactics

  1. We Have to Stay Afloat
  2. Eliminate headcount
  3. Decrease Development I Training
  4. Control Expenses

Impact

  1. Employee cynicism
  2. Sacrifice long-term growth capacity

 

Leadership Approach

  1. Opportunity to Improve Efficiency
  2. Upgrade the workforce, manage out poor performers
  3. Focus on strategic cost-cutting – process re-engineering vs. paper clip counting

Impact

  1. Employee commitment
  2. Sustained long-term growth capacity

 

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