Productivity is always a critical factor in business success. But keeping employees focused and at the top of their game is difficult when they are surrounded with negative news about the economy, unemployment on the rise, layoffs across the country, etc.
In this white paper we offer the following practical steps to keep your employees focused, positive and productive during challenging economic times.
Step #1: Turn the economy into the external adversary that your company rallies to beat.
Many businesses successfully use this tactic when facing a particularly formidable competitor. Management brings the team together, provides every possible piece of information about the adversary, and the team rallies to the challenge of beating that competitor to market with a new product, outselling that competitor, or whatever the specific objective is.
In this environment, you can bring your team together and rally for the challenge of holding your own and succeeding through the recession. You’ll want to send the message, that yes, the environment is tough but that your team is fully capable of meeting this challenge or beating the adversary, which in this case is the economy itself.
Step #2: Provide clear direction.
In order for people to be productive, they must be completely clear on these points:
- Core Ideology – what the organization believes and values
- The customers’ expectation of value and how you deliver value
- The outcomes you desire
- The tactics you use
- Roles, responsibilities & expectations
Understanding roles, responsibilities and expectations means that every single member of your team knows what is expected of them to reach your desired outcomes.
Step #3: Tell the truth and ask for your team’s ideas.
Creating positive energy includes being brutally honest about the reality of the situation. If sales are slow, your team needs to know that, know why and work together to determine what to do about it.
Invite ideas from everyone. Don’t judge each idea as it comes in. Evaluate them privately after they are generated. (The fastest way to shut off the flow of ideas is to publically judge them.) Thank each team member for his or her idea and, if the suggestion is not used, take the time to tell the person why. You want to create an environment where everyone feels encouraged and appreciated for generating ideas.
Step #4: Share the numbers.
Make sure everyone understands the key numbers that you use to measure success. Sales, costs, margin, profit – whatever the key indicators are for your business should be fully understood by your team. Break down expense components so that everyone sees the extent to which salary and benefits collectively impact your cost structure.
Make sure everyone understands the numbers you need to hit to break even and to reach your desired outcomes.
Step #5: Believe you can.
You need to be clear on this point. If you don’t believe that you can succeed through this recession, your employees will see it. And if you don’t think you can succeed through this recession, why should they? Therefore, in order to succeed through this recession, very simply, you must believe you can.
Step #6: Apply this formula: QD x C x AE = Results
Where:
- QD is the Quality of the Decision or in other words the quality of the ideas generated by you and your team
- C is the Commitment that the team collectively has for beating the adversary
- AE is your Ability to Execute
Your collective ability to execute will depend on all of this together. With an adversary to beat, clear direction, an infusion of fresh ideas, a clear understanding of the numbers and a strong team that believes you can succeed – your employees will be focused, positive and productive.
If you have any questions about this white paper, contact Mike Vann at the Vann Group. The Vann Group is a business advisory firm that assists companies in transition to unlock their value. We provide practical business counsel to transitional companies through a customized approach that is founded upon our passion for business and our family′s 150+ year entrepreneurial track record. No other firm can provide the breadth and depth of services like the Vann Group, including strategic planning and business development, merger and acquisition advisory services, leadership succession planning, organizational development consulting, and crisis and turnaround management.
