What a Waste!
Over 500,000 jobs have been lost, worldwide, over the Oil & Gas challenge, promulgated by the economic downturn. Nearly 100,000 jobs have been lost on Texas, alone. Whew, while I am glad I live in Texas, losing 100000 jobs is pretty challenging. Just the thought of the resources and cost involved in hiring all those people, then just terminating them is depressing and disappointing.
Over the years I have observed that 2 things always happen when the economy takes a “nosedive”- 1. a lot of people are fired, terminated, or canned and 2. Companies begin to realize that if they fire everybody, they don’t need all that space so they begin this big rush to sub-lease. What a waste of both manpower and resources.
Following that plan is a bad approach, but it happens, over and over again. Why? Because it is easier to make a list of employees to be fired than it is to make a list of things that could be accomplished if the workforce were more efficient and inspired.
Someone is going to reap big rewards when they recognize that there is a better way. A more productive way, to grow profits amid revenue pressures. Teaching just one employee to be more productive results in work achieved by 7 new hires according to a study performed by Robert Kelley at Bell Labs and the 3M company. Why not teach people to be better. Keep the ones that do and then say goodbye those (a far smaller number) who don’t. That’s the way!
Many people are like empty buckets, just waiting to be filled. They want to be better but just don’t know how. Well, managers and executives can show them how. I like to say that – Adding value to employees is like adding fuel to a fire-before you know it they become more productive and profit sky-rocket..
Try adding value instead of firing people and sending their experience to the competition or to other industries. In other words, don’t fire everyone at the next economic downturn, add some value to your people so they can be more productive (get more work done with fewer resources). Doing so accomplishes two things; You conserve their experience and you bind others to you because they perceive you and your organization cares about them.