Our last few newsletters have focused on managing thru these turbulent times. In Fortune magazine's insightful look at managing the "slowdown", Ram Charan and Geoffrey Colvin cited 13 moves to make and 3 rules not to forget. Most of their recommendations focused on testing your strategy, structure and processes. But equally important from their viewpoint is the need to focus on people. To quote Fortune Magazine, "When times get tough, many companies ease up on recruiting and spend less on training. That's just dumb." They compare the warning to postponing maintenance on an aircraft for six months! This is the time to make certain you have the best people prepared to do the best work possible.

TAKE THE TIME TO EVALUATE YOUR PEOPLE.

1.		Know who the A players are a. Give these executives a laboratory to contribute during these challenging times. Assignments related to strategy, process re-design, restructuring or productivity improvements will challenge them as well as provide needed energy to your company. b. Invest in their development in order to create long term loyalty and commitment to your company - you can bet someone else wants them - make certain you keep them.
2.		Identify the B players a. Invest in developing these guys and gals b. Make certain they know what their strengths and development areas are c. Be clear what their career path is and support them with training and coaching to reach their goals
3.		Cull the C players a. This is the time to know who these players are b. Provide clear feedback as to their performance gaps c. Set timetables for improvement d. Take action if the improvements are not demonstrated

By focusing on a clear strategy and improved operational performance as well as having the best workforce, your company will not only manage the downturn more effectively, but you will be positioned to out perform your competitors when the market does return to normal.

And as always, call our firm if you need assistance in building your processes for assuring you have quality people