Businesses have been on ‘lean running’ for a long time. The recession seems to have lasted ages. It may be over, there are those who want us believe that is the case; but we all know of businesses which have yet to see any signs of a corner– never mind being ready to turn it.
Only today Toyota announced they have 750 too many staff at two of their UK plants; worrying times for employees, families and both local economies.
Businesses should now be turning their attention to planning for the upturn. It must be carefully controlled. The last thing we want is to increase expenditure unless fully justified. So it is a time for planning effective strategy supported by sound cost:benefit analysis.
Two years have passed. What has happened during those two years? If you’ve been busy steering your way through the bad times, then maybe now is the right time to be thinking about the future. Succession planning is another issue that needs to be reviewed. Are there key people within sight of the finishing post of retirement? Have their successors been identified? Do they know what will be expected of them? How will the role change?
A word of caution. There are many key people who have held on to their jobs simply for the security. Any upturn will see an increase in recruitment. Now is the time to be considering the critical issues of selection, training, retention and reward.
To find out how I help and advise businesses to plan for these and many other eventualities, please visit my web site http://www.thebusinessandmanagementcoach.co.uk
