Will Business/Life Ever Be the Same?
Over the last many months as I speak with clients and discuss the current financial situation with them I continually hear people raising the question as to whether we will ever be “back to normal” (whatever that is). There also seems to be a consensus that something new is emerging from the crisis. I see that this is true not only in organizations but within our own lives.
While I was at the Human Resource Summit (www. hrforums.com) a couple of weeks ago I came away with a much clearer sense of what companies are experiencing, their view of whether business will ever be the same, and how they are moving forward.
What interested me the most was that the topics the executives were discussing at the summit and the issues and solutions they were raising about their organizations seemed to apply to individuals as well.
Listed below is my summary of key points from the HR Summit and then my observations about what individuals can be doing in their own lives to reflect these points.
Organizations:
Individuals (whether employed or not) can:
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© Carole Rehbock. All rights reserved worldwide. No part of this publication may be reproduced without express written permission from the publisher.
While I was at the Human Resource Summit (www. hrforums.com) a couple of weeks ago I came away with a much clearer sense of what companies are experiencing, their view of whether business will ever be the same, and how they are moving forward.
What interested me the most was that the topics the executives were discussing at the summit and the issues and solutions they were raising about their organizations seemed to apply to individuals as well.
Listed below is my summary of key points from the HR Summit and then my observations about what individuals can be doing in their own lives to reflect these points.
Organizations:
- Need a vision for the future
- Need to be very focused on the business they are in and stay on purpose
- See the downturn as a “seismic shift” in how they are doing business, not just a cycle
- No longer have three- to five-year goals; they are looking shorter-term, within a year or quarter or month
- Are looking to see how to stay viable long term
- Increase their market share
- Have less capital and see mergers and acquisitions as the way to grow rather than venture capital
- Are finding ways to use the down time to build systems and infrastructure, and to get their “house” in order
- Are still investing in their futures
- Understand that growth will be much slower from now on, and that they cannot expect 20-30% growth
- Are aware they need to motivate employees beyond pay
- See the need for transparency and keeping people engaged
- Are utilizing their talent well
- Understand that in an environment of less risk-taking there needs to be innovation and possibilities
Individuals (whether employed or not) can:
- Develop a vision for their future and a clear sense of purpose
- Make decisions about where to cut costs and where they still need to invest in order to keep growing
- Understand that their growth may be slower than what they are used to
- Align their skills with what organizations need
- Ask questions to get information and find out the truth of a situation
- Use down time for their own development and getting their “house” in order
- Stay open to options and possibilities
- Understand that business is fundamentally changing and stay up to date on what’s happening
- Develop short-term goals
COPYRIGHT AND PUBLISHER INFORMATION
© Carole Rehbock. All rights reserved worldwide. No part of this publication may be reproduced without express written permission from the publisher.