| Hello Novations clients,
I’m sure we can all agree that the first half of this year delivered the challenging conditions it promised. I can’t think of one person that hasn’t been impacted in some way. Recently however, the economy is showing signs of stabilizing and businesses are starting to prepare for improvement. Our recent client Flash Poll indicated you feel a cautious optimism about the turn around, with some of you even feeling confident (Flash Poll results).
Historically, organizations that have performed strongly during times of economic recovery are those who used the recession as an opportunity to improve business performance. What this means is there will likely be a "race to the finish" for the second half of 2009, as organizations look to Q3 and Q4 as the last opportunities to prepare for recovery.
For many organizations, the actions taken to protect performance have placed a great strain on the remaining workforce. Now is the time to focus on those employees and leverage development programs that will
Re-engage
Re-focus
Re-negotiate
I would like to share some of the more compelling ideas and strategies we have seen from several clients:
- Re-engaging existing talent:
- Flatten any remaining hierarchies to encourage rapid contributions by more employees. A recent ASTD study illustrated that only 18% of companies are focusing talent management programs on all employees.
- Be transparent about where you are now and your Human Capital plans for the remainder of the year.
- Be more visible and approachable as leaders.
- Re-focusing the workforce:
- Prioritize your remaining objectives. Think about doing fewer things but doing them better than anyone else.
- Train managers to increase the velocity of balanced feedback that places equal weight on efforts as well as outcomes.
- Establish achievable goals instead of one B-HAG (Big Hairy Audacious Goal) to build an environment of frequent successes.
- Renegotiate contribution
- Expect managers to have TOP Model(Talent, Organization, Passion) conversations. Organizational needs have radically changed; make sure your team members’ talents and passions are still aligned with those needs.
- Revisit skill sets to ensure that risk and readiness are aligned for all employees and their assignments to reduce the chances of failure and increase confidence and commitment.
How to make this happen
Spend smart: if downsizing and cost cutting have produced new profitability, then reinvest some percentage of the profit to ensure future performance.
Where to spend:
- Quick hit training to sharpen, rather than redefine skill sets
- Blended solutions that minimize classroom time and still provide high-touch connections (such as virtual solutions)
- Content that focuses on engagement and inclusion, to mobilize the largest percentage of the workforce.
Be intentional about choosing training and development programs that are clearly connected to your Q3 and Q4 objectives. Training that provides a shared language and framework for development will give managers and staff a new way to meet this year’s achievable goals, and tackle next year’s BHAG. Link all training--classroom, webinar, online--to the company’s strategic goals and publish tangible results.
What About 2010?
By implementing outcome-focused solutions today, you will be reaping the benefits in 2010. Budget your 2010 training and development dollars to go deeper into these key areas, making the initiatives true solutions versus quick fixes. This will increase their effectiveness and strengthen your ROI.
What are you planning?
These represent a few strategies we have seen working well, but we invite you to share additional ideas with your colleagues. Join me to discuss this on our Blog.
I look forward to hearing from you and partnering on our mutual success in the future.
Sincerely,
Mike Hyter
President and CEO
Novations Group, Inc.
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