The business world today seems to be playing follow the leader. The "Got Milk?" ad campaign became successful and dozens of companies copied it. One company decides the best way to deal with a recession is to lay off employees and have a salary freeze and dozens once again follow suit, not stopping to even think if there is a better alternative.
Playing follow the leader requires no original thought, means you will always be playing catch up, and what works for one organization doesn't mean it will work for your organization. Effective leaders look for opportunities to zig what everyone is zagging. Consider these three ways to take a different road that puts your organization in front and well positioned for the near future.
1. They are laying off people so you need to be hiring -- top talent
The employment numbers in this country continue to demonstrate companies are trying to gain through subtraction. Two years ago the biggest concern I heard from HR directors and CEOs was the dearth of talent to pick from. The talent pool is full once again with tremendous talent looking for new opportunities. While everyone else is still trimming good talent trying to meet short term end of year goals, you need to be shopping to upgrade your workforce. Who are you keeping that sucks? Think you can find someone else out there that is a better fit? Now is the time.
2. They are cutting budgets so you hold steady and reapportion budgets
Companies are so short term focused they are cutting out dimes that could be making them dollars just to make a report look good. It's a bad way to manage. While everyone else is cutting back on budgets, take the contrary approach and keep your budget at the same and just redirect money to where it can do the greatest good for the organization as you move forward. I find that most companies do sweeping cuts like 10% across the board which is laziness and bad business. Dig into the details. What areas can handle a 10% cut? What areas should actually have an increased budget right now? Marketing rates are very low for example, is now the time to add budget dollars to maximize the opportunity for greater exposure? Be different and make smarter choices.
3. They are taking a protective posture so you need to go rogue
Last year budgets were being formed during election and economic questions, yet most budgets went forward as usual. This year everyone is over reacting and afraid of what next year could bring; therefore, budgets are getting slashed and fear reigns. What happened to courage? When did leaders become timid and fearful? Be the rogue and take a stand you believe in your organization's ability to thrive in slow economic times and give your people the tools and talent they need to succeed. In war times the best time to make critical advances is when the opponent is in retreat. Your competition right now is in retreat and playing a "wait and see" game. Take advantage of the situation, be bold and courageous as a leader should be and grab the opportunity with gusto and charge ahead. More organization make a name for themselves in tougher times than when the economy is good to everyone. Be the rouge and grab market share.
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