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How you respond to change in the current economic landscape will determine your company’s prospects as the economy begins its recovery. What changes can you make to strengthen both yourself and your organization? Consider the following:
Talent Evaluation. Do you have a system in place to make sure that you are getting the best performance out of your workforce? Organizations need to have well-defined metrics and competencies on which to base judgment.
Cost Reduction. Have you asked your employees for their suggestions on areas where you can reduce costs? You may be surprised at how much insight they have.
Communication Strategy. Are you telling your employees what you are doing and why you are doing it? If you implement change without effective communication, you may create an atmosphere of uncertainty and be open to losing your best talent.
When we begin to see the economy improve, will you be ready to take advantage? Making sure that your organization is strong will put you in a better position to seize any opportunities.
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Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.
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