Through a special arrangement, presented here for discussion is an excerpt of a current article from Convenience Store Decisions magazine.
"Companies with mediocre leadership can skate by when the economy is booming, but in tough times they really suffer," says Quint Studer, president of the Studer Group, a Florida-based think tank. "Your leadership must be top-notch. If it isn't, you may not be around five years from now."
So what can you do to get through the recession? Well, creating a culture of sustainable leadership doesn't happen overnight, but the following eleven steps can yield quick wins and get your organization on the right path
1) Develop a get-through-the-recession plan. Figure out which objectives you are meeting, which ones need more emphasis, and which ones you should rethink.
2) Address the tough issues with straight talk and transparency. Chronic secretive behavior from leaders and lots of behind-closed-door meetings harm morale in any economy, says Mr. Studer.
3) Equip supervisors to answer employee questions. The rumor mill kicks up a notch and morale plummets. Train managers on exactly what to say regarding timely issues - and how to say it.
4) Nix the negative self-talk. When you exist in a constant state of worry, your state of mind infects everyone. Forward motion halts. And besides, 99 percent of the disasters you agonize over probably won't come to fruition.
5) Don't permit fear to get a foothold in your company. If an employee expresses worry about the bad economy, don't just clap her on the shoulder and say, "Yeah, I know it's rough; hang in there!" That lends credibility to her anxiety and indicates that you share it.
6) Stay connected. In the same way that a doctor makes rounds to check on patients, a leader makes rounds to check on employees. The technique allows you and your managers to regularly touch base with employees, make personal connections, recognize success, find out what's going well, and determine where improvements are needed.
7) Get rid of low performers. You should be spending 92 percent of your time with high and middle performers and only 8 percent with the people who don't really want to be there.
8) Look for creative ways to hang onto top performers. It may be unrealistic to pony up a big raise right now. But you can offer your people perks that don't cost a lot of money. Think about ways you can make their lives easier - flex time, partial work-from-home schedules (much appreciated in these times of exorbitant gas prices), access to a "chore runner" to pick up dry cleaning and stop by the supermarket - and implement them.
9) Put your best face forward with a Standards of Behavior contract. How should employees answer the phone? Should they knock before entering a coworker's office? Steer clear of controversial topics like politics and religion? Mr. Studer suggests creating a Standards of Behavior contract that employees help craft, then sign.
10) Always manage up your organization. Say only great things about your company and its staff, whether you're talking to outsiders, clients or employees themselves.
11) Shine a 1,000-watt spotlight on customer service. This one may seem obvious, but it can't be said too often.
There is a very big positive that comes out of downturns, said Mr. Studer. "It sharpens our survival instincts and shows us what we're really made of. Instead of just coasting along on the wave of an economic boom, we're forced to get focused and get serious."
Discussion Questions: What are some common management mistakes during down cycles? What's the best advice for managing down cycles? What's often the worse advice heard for managing down cycles?