Rosie said...
Wouldn't companies be in a stronger position to retain people (as long as they can afford it) when times are hard? People would be much more grateful and hopefully work harder to keep their jobs.

It's also a time where everyone will need advice and support. Companies will need better ways to allow everyone communicate with each other.

So I love current technology available. A well thought out community or some performance management software to identify who employees are and what skills they have could really make the difference.

I think in the long run it will be a positive change, but it is certainly scary as it is at the moment.

Jaason said...
i hear both of ya, definitely strikes a chord with me.

You can learn a hell of a lot about the people you work with when times are bad. In fact, it's actually a pretty good indicator of who you want to retain when the proverbial sh!t hits the fan....I work in a supersize me blue-chip and I've never seen people so scared- people are just crumbling under the weight of all those Metro headlines on the subway. I hope HR are watching. I mean, behaviour during economic blues should be a competency on every single appraisal form, Im serious!

Is this person resilient under pressure?Check
Does this person remain confident and level headed in trying circumstances? Check.
Are these people independent thinkers with innovative solutions or are they just status quo merchants?
Can they adapt quickly to change?
It's the perfect time to see if people are up to scratch, right?

Rachel Keeling said...
Some may say I'm a bit twisted but I actually find this time, when the economy is struggling, quite exhilarating. With competition for winning and retaining business increasing and profit margins decreasing everyone is having to work harder or smarter to survive. As you say Nick, most organisations are being forced to carefully assess where they are being wasteful and how they could be more productive. They also have to explore creative ways of attracting revenue from the smaller pot available in the market.
Employees are (or should be) getting a reality check that it is no longer good enough just to turn up and they need to ensure that their contribution is valuable.
This can lead to individuals and companies being sharper as they don't have the luxury of being able to procrastinate and goals (often just survival) are clearer.
In the finance industry in which I work it has been too easy (and in my opinion slightly unpalatable) for people to make money in recent years merely by taking a percentage of the, relatively easy to obtain, assets under management. I am pleased that things are turning so that it is not enough to continue with bad strategies and processes just because either it’s what everyone else is doing it or it’s always been done that way.
I don't think I'm alone in finding it more stimulating to feel that I am being challenged and much more fulfilling when I have been able to meet those challenges.
Gordan Ramsay’s philosophy seems to be, and it is evidenced in his ‘Kitchen Nightmares’ programme, that almost everyone wants to work hard to improve themselves and they are much happier when they do. During the boom years we are often able to become lazy or self-indulgent by treating ourselves to nice perks. We are normally much happier when we have to do a bit of hard graft and when we are forced to be use our initiative and intelligence first though. The rewards that we get from these achieving success in this way are much more enjoyable.
The laugh might be on the other side of my face, and I might not find this downturn so exciting, if it all goes horribly wrong and I find myself sleeping in a cardboard box this time next year though.

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