Businesses in a tough economyWhat are today’s employers, business owners, managers and companies doing during this challenging economic time?  Today’s economy is making the workplace a perilous place for many.   Let’s finally take a break from all the doom and gloom messages floating around in the business world and hear some positives!  

Recent fresh perspectives we have heard from clients, convey that challenges create opportunities!  Clients are being as proactive as possible when making decisions on what they can scale back and what they can enhance without hurting business opportunities. 

Here are 4 takeaways we got from clients on making the best of a tough economy

1. Employers are testing existing staff to uncover natural aptitudes and interests.
  This is a win/win situation since it should mean managers gain a clearer, faster understanding of what drives their employees and how to develop them. For employees, this insight and development likely translates into enhanced job potential as well as chances to grow and acquire new responsibilities within the company in a shorter span of time.
2. Managers are learning how to do more with fewer people.
  Employers can double or even triple their return on employee investments just by having each worker fill the correct multiple roles. For example, an outgoing administrative type who’s usually entrenched behind the scenes might double as a telemarketer when office work is slow. With minimal training, this natural networker may be the one who so deftly uncovers new leads for a company or easily convinces indecisive prospects to schedule seminars or presentations.
3. Owners are reassessing general business practices.
  Because many are finding that what once worked no longer does, more creative avenues are being explored throughout the industry. Greater emphasis is currently being given to the completion of succession plans, and next generation initiatives are getting launched now instead of later. There’s a renewed sense of determination to let go of old ways and try something innovative – which is, indeed, what must happen as senior executives retire and younger ones take their place.
4. Companies can be prepared today for the industry rebound.
  Once the tide turns there’ll be no stopping it. Having well-rounded, loyal workers in place today is the secret to staying ahead of the competition. While others are simply wringing their hands and shaking their heads, more aggressive company owners are ambitiously setting goals and devising plans.