Economicst proclaim that the recession is over! So, is your team ready for the soon to come influx of new business? Well, to ensure your organization is strongly positioned and ready as the economy improves, consider these 8 Essentials for Plotting Your Post-Recession Course.
1. Survey your Customers Now. This will help you logically assess where gaps currently exist in customer service, employee performance, and day-to-day operations. Don’t rely on what you think customers will want and need when the economy recovers; ask them in an inconspicuous manner using a brief survey (paper or electronic) that is no more than 10-15 questions.
2. Refine your Strategic Plan. Many prognosticators warn that organizations will rebound from this recession with a new definition of “business as usually”, often referred to as “the new normal.” Your new strategy must be one that allows your organization to perform with a high level of efficiency, productivity and sense of urgency, with fewer employees.
3. Retool and Retrain your Staff. Employers who have continued to invest in training, despite the recession will regain a higher level of profitability quicker. This is largely attributed to their ability to retain their most loyal customers, due to their high level of employee engagement. However, if you were forced to suspend training activities over the past 12-18 months, now is the time to re-invest in employee training to refine their skills as it relates to customer service, problem resolution, and sustaining cost-efficiencies.
4. Refine Your Organizational Culture. During the past 12 months all anyone has been able to focus on is staying financially viable in the midst of the recession. Few leaders have spent any time reinforcing the vision, mission, values, and standards of excellence within their organization. And guess what? If you haven’t been talking about it like a broken record, most likely these important factors in the success of your business are no longer on the radar screen of your employees; resulting in a mediocre to poor customer experience.
5. Update Systems and Processes. Over the last 12 months most likely you were forced to improve efficiencies due to reduction in staff and budget cuts. Many of the systems and processes that were changed, updated, or eliminated may have resulted in increased worker productivity; but most likely no one has had time to document them in writing so that they can be duplicated and sustained with success. Now is a good time to update in writing those systems, process, and especially procedural manuals.
6. Step-Up Accountability at all Levels. If you don’t hold everyone accountable for maintaining cost-efficiencies, as the economy and the financial stability of your organization improves staff may become lax, wasteful, and subtly slip back into old, inefficient work habits. Continue routine monitoring and measurement of departmental expenses, productivity, and customer service; and when the numbers look “out of whack,” hold teams and leaders accountable for explaining why and what they plan to do to get the numbers back in perspective.
7. Re-energize Reward & Recognition. Even small acts of kindness that express value and appreciation go a long way in boosting worker morale, increasing productivity, and improving customer satisfaction. Simply put, there is no disputing that happy employees make happy customers. Inexpensive activities like pizza or ice cream sundae parties in the break room, a handwritten “thank you” note from the boss, or simply acknowledging “how an employee went above and beyond in their job” at a team meeting all go a long way.
8. Increase Marketing Activity. Evidence shows that companies who increased their marketing activity during the recession of the early 1980s grew 275% throughout that decade, compared with 19% growth experienced by those who cut back on their marketing spend.
Bottom-line, if your staff is not properly equipped with the skill and knowledge to succeed based on "the new normal" business model, our organization as a whole will be left behind during the next ecomonic boom. So start with these tips, incorporate your own, and work aggressively to position your organization to succeed as the economy recovers!
