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Leading in a Recession

Mon, 13/10/2008 - 7:50pm — Joanne Grey

 Leading in a recession

In order to survive a recession the business needs to cut staff and costs – Right?

Wrong! McKinney Rogers conducted an international survey of senior business executives and found some interesting results.

 

Q:        What are the most important things the business needs to focus on in order to reduce the risk of exposure to recession?

  • 78% of respondents said the development of their workforce was the key tool;
  • 73% agree that moving into emerging markets that are unlikely to be affected by recession is important;
  • 67% said that diversifying the business offering was necessary;
  • Only 38% of respondents believe that cutting prices to become more competitive is effective;
  • Only 34% thought that reducing the number of employees would be effective;
  • Only 23% thought that reducing marketing spend would be smart;

At times of economic slowdown it is essential that all staff buy in to the vision and direction of the business. Tough times are demanding and resilience is a must have. This makes leadership even more important than during the good times. Making productivity in the right areas a focal point and aligning people, resources and strategies will reduce exposure to the risks of recession.

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Teamworks are running a 1 day workshop on “Leading in a Recession” that covers the following:

  • Exploring how the recession might impact on your business.
  • Why leadership in a recession is critical and what to do differently.
  • How to “recession-proof” the business.How to use the recession to your advantage?
  • How to create a comprehensive recession-proof plan.
  • Case studies of action taken in recession (both good and bad).
  • Criteria for deciding what needs more attention and what can be put on the backburner.
  • How to improve resilience in individuals and teams.

 

To book your space on one of the public workshops in Brisbane, Australia or Wellington, New Zealand, please e-mail craig.leith@teamworkspacific.com or karmyn.ingram@teamworkspacific.com.

Workshop cost: $500 per person including GST. (Group bookings discounted)

You can access the full McKinney Rogers research by clicking on the following link: