Recession, inflation, and layoffs are stories in the news. Leaders are aware of these, but don’t react to them. But look at the economic fundamentals, your leadership foundation, and your connection with your customers. Remember that even in downturns, while some companies shrink, others emerge and scale. There are business, product, and service cycles. There are also pivots you may need to pursue for business viability.
After basic needs, people crave a sense of security and belonging. Create the culture and workplace that values supporting each other, helping others to contribute and thrive, and learning and working together to deliver great experiences to the customers . Security comes from feeling inclusivity, belonging, solving the tough problems, and creating the future as one team. Nothing instills fear and low morale faster than layoffs — do them as a last resort before you close the doors.
Leaders create the focus and direction for the organization. They identify mistakes as learning opportunities. For the company, failure is not an option. That’s why innovation as a business strategy is essential. All may need to pivot the business with new products and services or a deeper level of value to the customers. Remember when you could call a company? Someone answered the phone and made your reservation or answered your question.
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