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Don’t Panic It’s only a Recession Colin MacGregor.

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Presentation on theme: "Don’t Panic It’s only a Recession Colin MacGregor."— Presentation transcript:

1 Don’t Panic It’s only a Recession Colin MacGregor

2 8 Steps to Organization Renewal 1. Review Mandate 2. Review Processes 3. Review Organization Structure 4. Review Activities 5. Review People 6. Develop Communication Strategy 7. Take Action 8. Repeat annually through good times and bad

3 # 1 Review Mandate ◦ Mission – why does your business exist?  Redefine if necessary due to economy and competitive pressure ◦ Vision – What do you want the business to be?  Has it changed? ◦ Values  Shouldn’t change ◦ Value proposition  Value to customers - has it changed?

4 # 2 Review Processes ◦ Are your current processes efficient? ◦ Do your current processes support the new business climate?

5 # 3 Review Organization Structure ◦ Does your organization structure fit the new business reality? ◦ Is it aligned with your business mandate and your processes?

6 # 4 Review Activities ◦ What are the things you need to keep doing?  What's working well and adding value ◦ What are the things you need to stop doing?  What is not working well and stopping you from being as successful as you can be. ◦ What are the things you need to start doing?  What came out of steps 1, 2, 3  What changes are necessary to meet your new reality

7 # 5 Review People ◦ What skills do you need to fit the new paradigm? ◦ Who has those skills? ◦ Who can develop those skills? ◦ Match those people with the new tasks and organization ◦ Make decisions on those who don’t fit and act quickly

8 # 6 Develop a Communication strategy ◦ Be honest and open with people ◦ Make sure they get their information directly from the top? ◦ Avoid paralysis by rumour. ◦ Don’t give the organization lawyers a chance to sabotage your company ◦ Give people an outlet for their fears and concerns

9 # 7 Take Action ◦ Communicate the new reality ◦ Make organization changes with a sense of urgency ◦ Train people who need new skills but instill a sense of purpose and urgency. ◦ Deal quickly with people who are not going to be part of the new organization. Don’t drag it out. Take action and move on.

10 # 8 Repeat Steps 1 through 7 Annually ◦ Regardless of the business climate you need to revisit the organization annually to keep it fresh an ahead of your competition ◦ Regardless of how bad the economy gets there is always someone making money and doing well. You want to be one of them

11 “As we move into the new millennium and find ourselves in a knowledge economy, it is undeniable that people are the profit lever.” Jac Fitz-enz – The ROI of Human Capital

12 “After a long career in Human Resources working for a number of good companies in several different industries I’m convinced that the one constant in business over the years is poor management.”

13 Common Reasons for Business Failure “Bad or improper management practices, including poor cost controls” From the MasterCard website

14 Lack of direction. Business owners often fail to establish clear goals and create plans to achieve those goals, especially before starting out, when they fail to develop a complete business plan before launching their company. #1 reason for business failure from Entrepreneur Magazine and Yahoo

15 “doing the right things and doing things right” Strategy  Focus on what is important to the business Alignment  The organization, business processes, HR processes aligned to meet organization objectives

16 Many a report on business failures cites poor management as the number one reason for failure. New business owners frequently lack relevant business and management expertise in areas such as finance, purchasing, selling, production, and hiring and managing employees. Unless they recognize what they don't do well, and seek help, business owners may soon face disaster. Patricia Schaefer –

17 Team and Individual Competencies Corporate Strategy Strategic ObjectivesCore Capabilities Business Measures (Financial, Operating, Customer, People) Core Performance Competencies (Business Knowledge, Functional Skills, Value-Added Behaviors) Team and Individual Measures Key Performance Factors “THE WHAT”“THE HOW”

18 Integration Organizational systems and processes should not be developed in isolation The Training & Development function is part of a much larger system

19 Compensation Structure Skill Assessment & Inventory Accountability Framework Assessment & Career Development Process On the Job Coaching Mentoring Program Education Support Talent Pool Replacement Planning Succession Planning Training and Development Strategy HR Planning Recruitment Process & Tools Orientation Foundation Development Stream On Boarding Stream

20 3 Categories of Training & Development 1. Compulsory  legislated  operational  Policies & procedures 2. Performance Related  Organizational  Individual 3. Development  Succession planning  personal

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