Four Clear Steps to Steward Talent in a Downturn
Ray Kroc, the tycoon genius who built McDonald’s into a global brand claimed, “You’re only as good as the people you hire.”
But Kroc never had to duke it out with a global pandemic. Today, six months into the fight, COVID-19 is still pummeling the morale, revenue, and viability of countless nonprofits and companies. COVID is taking serious aim at top, rising talent.
A staggering fact: Even before the pandemic hit, Harvard Business Review published research by the Corporate Leadership Council involving 20,000 employees dubbed “emerging stars” in more than 100 organizations worldwide revealed:
- One in four intends to leave your employ within the year.
- One in three admits to not putting all his effort into his job.
- One in five believes her personal aspirations are quite different from what the organization has planned for her.
- Four out of 10 have little confidence in their coworkers and even less confidence in the senior team.
How can you steer clear of these nasty outcomes and preserve and grow your talent both now and in the weeks and months to come?
The solution might rest inside the pages of our toolkit titled, “Stewarding Talent & Mission in a Downturn: A 4-Step Toolkit to Position for Recovery.” Here’s a quick appetizer of the logical, “how-to” strategies to feast on:
1. Assess the current impact of the crisis your organization is facing today.
- Clarify your immediate and short-term revenue and expense situations
- Identify specific crises you’re now facing
- Analyze areas of the organization that need to stay supported (or cut and eliminated)
- Examine the people ramifications of product and service reductions
- Make fair, equitable, and wise long-term decisions that affect areas like compensation, hour cuts, furloughs
2. Align your assessments for excellent decision-making
- Revenue and expense gaps are clear and reasonable
- People reductions and transfers are feasible, and you understand who will be impacted
- Dashboard components are easily understood when explained to others
3. Care for your people as you approach downsizing with Christian values and characters
- Compassionate: Are your leaders sharing the impact of the reduction? Have there been personal sacrifices?
- Humble: Are leaders legging themselves to see and hear how people are feeling?
- Fair: Are your people experiencing a reasonable workload given the current changes?
4. Act and organize your work into a successful rollout plan based on three, essential “If’s” . . .
- If you’ve already made all your reductions,
- If financial reductions have started, but people decisions are still to come, and
- If you have completed all the exercises but have not yet taken any action, then take action:
- Assemble a team of 3-4 best skilled and equipped to assess, align and care
- Create an action plan to reach measurable goals based on who does what by when
- Consult BCWI’S 37-page resource guide, “Stewarding Talent & Mission in a Downturn: A 4-Step Toolkit to Position for Recovery” To receive a copy, send us an email here.
Act wisely to steward your talent in this current downturn and you’ll live out the words of 1 Peter 5:2-3, “Shepherd the flock of God that is among you, exercising oversight, not under compulsion, but willingly, as God would have you; not for shameful gain, but eagerly; not domineering over those in your charge, but being examples to the flock.”
To receive a copy of “Stewarding Talent & Mission in a Downturn: A 4-Step Toolkit to Position for Recovery” EMAIL US.
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