Helpful Guidance During Tough Times
Posted on 02.19.2015
With lower oil prices comes layoffs, cutbacks and the ripple effects that hit the Houston area economy. Your management meetings are full of, “Should we adjust our targets, our budget, and our strategy?”
Achilles Group builds close, engaged working relationships with our clients and in a very real and personal way. We know how hard it is to take your business and your people through the tough times. We also know how to equip you, your management and front line leaders for the challenge:
Clearly Articulated Priorities
Provided you have established cultural principles, commitment to core values and strategies you must maintain focus upon and imbed these in your communications.
• We will make every effort to minimize direct cuts in personnel and make all decisions based upon specific criteria. And we will extend respect and an appropriate level of support to those directly affected.
• We remain committed to growth. This means that even as we reduce cost we will continue to invest in resources that support our strategies for growth.
• As business conditions improve we will consider opportunities to re-engage some of those affected by the cutbacks.
Commit to principles of effective communication and plan out the sequence and timing of key messages. Ensure your leadership truly gets your intent and commitments and are prepared to not only accept but to embrace the message. If your leaders are not able to personally accept the message they will cast a shadow of insecurity and doubt. You need champions who believe in the actions as appropriate and necessary to fuel future growth.
In predetermined sequence cascade updates down through the levels of leadership all the way to front line employees. Consider impact of the message and select the best format and spokesperson for specific audiences. Script talking points to avoid drift in the message.
Be honest, we make the best decisions we can based upon our experience and the counsel of trusted advisors. Be open about what you know and do not know. Acknowledge mistakes and commit to taking steps to achieve better results.
Follow a Process
Determining the need for cost reductions should always involve review of all expenditures. Though the most significant cost cutting is found in payroll take steps to look at all other areas of spending to ensure we are capturing the maximum cash with minimum impact on our ability to deliver goods and services.
To learn even more about how Achilles Group will help guide you through your organization’s process, please call Deborah at 281-469-1800.