downturn posts

Taming the Elephant in 2011

2010 has been the year of the great stall. The world marketplace has shifted dramatically, and our society can’t stop talking, reading, and writing about it. Yet many of us haven’t gone much further than talk. We haven’t done anything yet. The decisions, changes, and actions needed to actually deal with the new marketplace have been missing in action.

Why doesn’t anything seem to be happening? Fear — that insidious feeling that grips the gut with unrelenting tenacity has been ruling the day.

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Have we entered a New Normal? Hardly.

I have a bone to pick with the phrase “The New Normal” and how frequently it’s being tossed around these days. Yes, we’re emerging from a disastrous global economic crisis. In the aftermath of a tsunami, it’s tempting to look around and call the new landscape “The New Normal.”

My discomfort derives from the implied assumption that there is a “normal” at all.

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The Cost of Chaos

During the first week of the new year, when we tend to gaze optimistically at the road ahead, a headline from the Associated Press announced “Americans’ job satisfaction lowest in 22 years.”

The article then went on to say “That is the lowest level ever recorded by the Conference Board research group in over 22 years of studying the issue. If the job satisfaction trend is not reversed, economists say, it could stifle innovation and hurt America’s competitiveness and productivity. It also could make unhappy older workers less inclined to take the time to share their knowledge and skills with younger workers.”

Well, that got my attention! Of course there are many reasons for the decline, including the worst recession since the 1930s and the fact that downsizing has created more work and more demands on the workers who’ve survived the cuts. That doesn’t change the fact, however, that such a decline has somber implications for businesses, and executive teams need to address this issue in their organizations.

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