The economy continues to be challenging. Fewer sales, less revenue, and more layoffs.
Here are a couple of thoughts:
Are your current employees sabotaging your success?
Are your people focused on the right things that will lead to success in this time?
Here’s an interesting snippet of a commentary from Bob Seldon, the MD of the Australian National Learning Institute.
“A strange phenomenon has arisen as a result of the recession. The most successful companies – those which are used to having the most money and more opportunities – may very well be the ones which need to make the most radical changes in their thinking in order to weather this current storm… Do these successful companies lack people who have the courage to say “NO” and can see the need for pro-actively making a painful decision? Or more importantly, who can look at a situation and think differently about how a decision should be made?”
Contrarians in the Workforce?
So does this mean that you need to change managers and leadership? What if those people have been very valuable and helped you to achieve the success you have? There are many people now available, and some of those might be the “contrarians” Mr. Seldon suggests are needed. Or, is there another option?
“When sales are down, traditional decision making would suggest “reduce prices”. But when customers do not have the money or are unwilling to buy, no price reduction will encourage sales… Enlightened decision makers on the other hand, instead of looking from their own perspective (of trying to increase sales) might say, “Why are people not buying cars at the moment?”. True, some cannot afford to. However, there are many people who have the resources but are unwilling to purchase at the moment. “Why are these people unwilling?”"
This suggests not necessarily a change of people, but rather a change of process. I agree.
Which Way are Your People Looking?
Many businesses today are focusing on “what do I need to remain strong; what do I need to continue to bring in the revenues and meet expenses?” Why not think in terms of “what do my customers need to continue to buy from me?”
If your management team and employees are focused on their own survival, they may miss the opportunities to bring customers in the door, and provide for them what they need.
Traditional advertising and marketing says “show the benefits, make sure people understand the value this gives them.” These are important, but in today’s economy, people may understand the benefit and value, but not be able to purchase as they normally would. Or they may be making trade-offs of what is important to them.
The distinguishing mark may be creating a better connection with your customers. I’m continually reminded that it’s more than the benefits and value, but the connection.
For employees, benefits and value are things like compensation, benefits, work schedule. But time and time again, we learn from employee surveys and studies that what keeps an employee is the relationship with the supervisor. Where the relationship is strong, employees are willing to forgive on the “benefits and value.” Where the relationship is weak, employees will leave as quickly as they can find another situation that provides comparable “benefits and value.”
Customers or Employees
What about your customers? Do they continue to buy your products and services because it’s the best “value” for what they need? Or are they buying from you because they are committed to your organization based on the relationship they have with you, your sales people, and your customer service staff?
As you create situations where you show your customers the value of the relationship, rather than just the value of the product or service, your customers will be more committed and open to continuing to do business with you – even in hard times.
So it is with employees. When you show your employees the value of the relationship, beyond just the value of the compensation or benefits they receive, your employees will be more committed to you and more willing to go beyond the normal requirements of work to stay with you.
Workforce Expertise:
To build the kind of relationship that “ties” your employees to you, and which inspires employees to give you full effort and then some, be clear you know what they want, what they need, for their situations, rather than just focusing on what you pay and what you provide. I know I’ve said this before, but so many companies don’t do this – talk to them and ask them. Don’t just ask if they agree with their pay or if they like the benefits. Ask about what’s bothering them, what’s creating stress for them, and what’s keeping them from feeling completely committed to you and your business. You might be surprised by the answers.
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