Ten Truths for the Boss

Anyone who's read this blog over the years, or who knows me personally, is aware that one of my heroes is Michael Josephson.  Mr. Josephson has commented for years on the relationships between ethics and successful, sustainable business models.  One of his greatest radio commentaries discusses "10 Truths for the Boss", which I've put here:

Why is it that most employees think their bosses are at least a little out of touch? Probably because they are. Even those who worked their way to the top lose some credibility and effectiveness because they don't recognize what I call Ten Truths for the Boss:

1. The more certain you are that "it can't happen here," the more likely it is that it will. Be careful about overconfidence and complacency.
2. There are lots of things you don't know, and lots of people who hope you don't find out. Hardly anybody tells you the whole truth anymore. Information is filtered through the fears and career aspirations of subordinates, and many employees believe you will "kill the messenger" if they deliver bad news so they tell you what they think you want to hear.
3. To those who want to please you, your whisper is a yell and your comments are commands. Be careful, people may do foolish things to please you.
4. What you allow, you encourage.
5. There's never just one bad employee; there's the employee and the manager who keeps him.
6. At least someone who works for you is "gaming" the system so they appear to reach their business objectives with smoke and mirrors rather than real achievement.
7. According to the law of big numbers, if you have lots of employees, you probably have a few crooks and psychopaths working for you.
8. Few people think as highly of your ethics as you do.
9. No matter how many good things you do, you will be judged by your last worst act.
10. No matter what your job description says, what matters most is how you manage relationships and people.

The Josephson Institute of Ethics website is here.

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The Art of Persuasion

It's always a little strange to see your thoughts in writing - especially if they're being written by someone else.

I was recently interviewed by students at the USC Marshall School of Business - they are candidates for Master's degrees in Leadership and Management.  The focus of the interview was how to persuade employees to see your point of view.

Here's the paper (and I didn't edit at all!)

Background:  Eric Swenson has over 20 years of experience in management, sales, training and marketing. He has managed hundreds of employees and interviewed over 2,000 people in his career. RSJ/Swenson LLC is a management and human resources consulting firm with offices in California and Nevada.

Interview Summary: Eric shared his insightful thoughts about the leadership and persuasion. For Eric, persuasion is a natural process and he prefers soft tactics. He is always honest to his superiors and subordinates. Eric believes that effective leaders are very expressive when they come to everybody. They are very candid and direct and these personal traits play a key role for persuasion process. According to Eric, the three most important aspects for managing up and down are communication, openness, and setting a positive tone that focuses on the end result.

Persuasion Strategies:

• Self Persuasion: “If you were in my position, how would you handle my problem?”
• You should let team members identify the solutions on their own. You also remind them why they live in the same organization. This especially helps you deal with some conflicts with your members.
• Logical reasoning: 
• You use facts, figures, and belief that your idea is correct. You also consider the goals, needs, and interests of your subordinates/superiors you’re trying to persuade. The more they see an idea can help them, the more likely they are to help you.
• Persuasion Tactics: 
• Collaboration: You need to work with your subordinates, not at them, in order to get them to enthusiastically support your requests. You collaborate with team members, rather than using authority. You don’t need to overuse that power. The relationship based on the trust is a key for the collaboration.
• Communication/Honesty: You should facilitate communication and be very honest to your people.
• Improving Persuasive Skills: Appeal to the subject’s self-interest: You make it sure that what you need align with their best interests.
• Present strong evidence to support your views/positions: You do intensive research and show the team members an idea that will likely work.
• Establish credibility: You’re more likely to persuade your subordinates when trust and respect you. You promise to take the blame if it does not go well. This leads you to build up the trust and respect you’re your subordinates.
• Make your objectives clear: You should get your team understand what you are doing and why are why you are doing that.

Other key factors:
Decision making is a collective effort: As a leader, you have to be honest to your team members. If you found you made a wrong decision, you would change the decision. There is nothing wrong with admitting a mistake.

California Alternative Workweek Schedules

One of the best ways of improving morale without costs is to consider Alternative Workweek schedules.  Up until January 1, it has been most difficult to implement.  However, California law regarding alternative workweek schedules have been eased somewhat as a result of AB 5.

Alternative workweek schedules allow non-exempt employees in a “work unit” to work in excess of 8 hours per day without incurring overtime. (California law includes a daily overtime requirement.) Generally, an employer may propose AWS work schedules of up to ten hours per day (12 for healthcare workers). Hours in excess of 10 per day, or 40 per week are overtime. Typically employers propose schedules consisting of four ten hour days or a “9/80” schedule. Special procedures describe advance disclosure and a secret ballot election prior to implementation of the AWS.

The AWS can apply to a “work unit” within a company, rather than to all employees. Previously, the Labor Code did not define “work unit,” although state regulations included a definition. The new law defines a work unit as “a division, a department, a job classification, a shift, a separate physical location, or a recognized subdivision thereof.” The amendment also clarifies that even a single employee may qualify as a work unit as long as his job function meets the definition.

In setting up an AWS, an employer may propose a single work schedule, or it may propose a menu of work schedule options for workers to select. Can the “menu” include a traditional 5 day week for those employees who do not want to work longer days? The amended law clarifies that the menu options may indeed include a regular schedule of five eight-hour days in a workweek. Consequently, employees who do not wish to work an AWS schedule may still vote in favor of the AWS by choosing to work the regular 8 hour day. This change greatly increases the odds of achieving the 2/3 employee supporting vote need to implement an AWS.

Additionally, the new law specifies how often employees may move from one schedule option to another on the menu. For example, if an employee opts to work four 10 hour days, how frequently can he opt to go back to regular 8 hour days? As amended, Labor Code § 511 allows employees to move from one schedule option to another on a weekly basis.

Employee Morale: The leading predictor of future growth and profitability

...or so says Roxanne Emmerich, author of "Thank God It's Monday: How to Create a Workplace You and Your Customers Love."I have no reason to disagree with her.

In this economy, there are fewer employees doing more work.  And for those employees who are unhappy - and there are legions - there are no other jobs to get.

While the economy begins to recover but job creation a long long way away, it's time to find out what to do in order to improve morale in your workplace.

Give 'em training, self-improvement courses, or survey your employees to find out what they want.

When this economy recovers, the last thing you'll need is to have all your employees looking for another job.

Training New Managers

Most managers get that role because they're the hardest worker; the best salesperson; or the smartest person in the office.

But those traits don't translate into being an effective manager.  That's where screening, development, and - most importantly - training - comes into play.

A new article in HR Executive Online discusses how and why to get managers properly trained as well as establishing metrics for success.

And yes, I'm quoted in the article.

Thanks to Scott Westcott and HR Exec Online

Management & Leadership Trends 2nd Half 2009

Last week, I gave a presentation in Las Vegas on what I perceive to be the significant trends for managers and leaders during the last half of this year - check it out!

Management Leadership Trends 2nd Half 2009

View more OpenOffice presentations from Eric Swenson.

Concentration, Poker, Effectiveness and Liz Lieu

Last Friday night, I spent an hour watching (sweating, in poker parlance) a professional poker player in a tournament at the World Series of Poker. It ended up being a lesson in how concentration works in different ways.

Liz Lieu has been a professional poker player for several years; she's won tournaments and had top finishes at other prestigious events. (As a side note, I love watching poker - it's one of the ultimate ways to study people).

You would expect a professional to have incredibly focused concentration; to talk little and always watch other players at the table and how the hands unfold. Not Liz. She had her I-Pod on (several people tell me that an I-Pod improves concentration; that's never been my experience). At every chance (mostly when she was out of a hand), she was on her PDA - twittering and texting. People, mostly other pros, came over to chat and she was gracious and funny with them.

And, by the way, she was winning!

What I also noticed was when she was involved with a hand (or before she even saw her down cards) - she was intense. Behind those sunglasses (the photo, courtesy of Poker News, was taken the day I was sweating her), she wasn't missing a thing. She saw the reactions of her competitors as they looked at their cards - what they were betting, etc. Her face gave away nothing, but she was seeing and processing everything.

What does this have to do with management?

Just as some people work better with a messy desk than a clean one, people have differences in they way they concentrate best. It's a temptation for a manager to insist on a clean desk, or tell an employee to take out their I-pod earpiece. But it's the wrong temptation as long as an employee is performing well.

It's the role of a manager to foster an atmosphere where employees can flourish and perform at their best level.

Although there's no way I could play in a poker tournament while doing all the things Liz does, what she does works best for her. Remember that when the temptation strikes with your employees.

Ways To Improve Morale

In the down economy, with layoffs all over the place, its critical for management to take steps to maintain and improve morale of their existing employees. After all, you need your existing employees to do more now that there are fewer people to do the work.

How do you increase morale when budgets are so tight?

The key is constant, frequent, and candid communication with employees. They deserve to know what's going on and what you're doing about this frightening economy.

An excellent summation (including, thankfully, the call for transparency and communication) is found in this Wall Street Journal post about a case study at a company in Boston - Greenough Communications.

What Generation Y Managers Want

I'm in the middle of conducting a Leadership Development Program for a company that is young. And their managers - 11 of them - are really young: the oldest is 29 and the youngest is 23. What's more - none of them have had management training before, so it's been an interesting experience for all of us.

Prior to conducting the program, I asked them what they most wanted from their training. Here are their answers:

1. How to give both positive and negative feedback.
2. How to utilize people's strengths and optimize their weaknesses.
3. How to get subordinates to Manage Up.
4. How to keep my team motivated
5. How to make the most efficient use of my time.
6. How to delegate (this is related to #5).
7. How to manage expectations.

A pretty good list - and, I think, not just limited to Gen Y Managers.

Thoughts?

You've Laid Off Staff. Now What?

Perhaps the easiest part of reducing expenses is cutting back on staff. Because the next step - "What Do We Do Now?" is extremely difficult.

What Do We Do Now? You have fewer employees but need to have the same or better performance.

Hopefully, when reducing staff, you took the first important step which is to identify those employees who are capable of doing more and retaining them.

In identifying employees who can do more - look at attitude (desire) and aptitude (ability). Communication (as always) is key - those employees are going to be doing different things and more of them.

The employees who stay need to understand why they're there and what their role is.

Employees who stay after a layoff are even more valuable now. There is some guilt (why did I stay and my friends have to depart?), a lot of trepidation, and no small amount of concern and fear.

It's up to the employer to alleviate those concerns and allow the business to move forward.

You Know You're A Bad Boss When...

Comedian Jeff Foxworthy created a cottage industry when he started saying, "You know you're a redneck when..."

This post talks about a similar awareness: "You Know You're A Bad Boss When..."

And awareness is the key component. Employees will always tell you what they think you want to hear. If you aren't completely aware of what's going on in your workplace, then you're failing as a manager.

The other key component in awareness is to be completely honest with yourself when assessing your strengths and weaknesses. It takes a courageous manager to ask employees what is good and bad about his or her management style. (A 180-degree survey is also helpful, and most managers are rightfully scared to death of them).

Steve Wyrostek, the Chicago Small Business Strategies Examiner (www.examiner.com), wrote a recent article that inspired my post. Among his excellent thoughts:

You just might be a poor boss if ….

• You claim an open door policy and wonder why no one comes through that door.
• Your employee has to ask you why her check increased instead of you telling her prior to payday that you gave her a raise.
• You feel sorry for the Dabney Coleman character in the movie “9 to 5”
• The turnover percentage in your area is the same as the winning percentage of the White Sox.
• Your leadership role models are Machiavelli, General Patton and Atilla the Hun.
• You find a copy of A Survival Guide for Working With Bad Bosses: Dealing With Bullies, Idiots, Back-stabbers, And Other Managers from Hell by Gini Graham Scotton an employee’s desk.
• You have a budget of 30k to spend on employee bonuses and never use it.
• You think it’s good management to come in under the paltry 3.5% budget available for salary increases.
• You think that losing your temper is an indication of management strength.

Remember, being honest with yourself is the first, most important step in improving both your skills and performance - and those who work for you.

Tardiness on the Rise

So 20% of American workers are late to work at least once a week.

In an era where jobs are becoming more and more precious (and conversely, layoffs are becoming more common) - it's disturbing to think that 1 in 5 workers think so little of their jobs that they're willing to gamble on being late once a week.

The usual culprits are excuses: traffic, dealing with children or pets, etc.

I am beginning to advise employers of the benefits of a high employment rate - that is, you can get a much more qualified worker now than ever before. And if that worker has been out of a job, they will be more loyal, work harder, and improve your productivity.

Jobs are scarce. Workers had better value their job (and show up on time), because there are many people out there who would take that job more seriously.

Management & Leadership Trends 2009

My recent article generated enough interest that I recently turned it into a presentation. Here it is in PowerPoint format.

Management & Leadership Trends 2009

View more presentations from Eric Swenson.

Management and Business Trends For 2009

2009 is shaping up to be a challenging year for small businesses with a world full of unknowns. The businesses that succeed will be those who can quickly adapt to change; embrace unknowns; and innovate.

Successful small business owners don’t look at this recession as a challenge – they look at it as an opportunity. Your competition is going to struggle, but that doesn’t mean you have to.

For the purposes of this article, we’re defining a small business as one who employs between 1 and 500 people. Here are our predicted employment trends for 2009, and ways you can use these trends to sustain and improve your business for the long term.

1. Employees have transformed from an ‘entitlement’ mentality into a ‘privilege’ mentality.

We’ve observed over the past several years that employees have generally viewed their employment as that of entitlement – they are owed by their employers for the work they do. With a robust, growing economy, that means they can pick up and leave for a better opportunity at the first sign of disappointment. It also means their attitude is generally not that of a team player – but as an individual who deserves promotion, salary increases and more attention. This is no longer the case. Everyone knows that layoffs have been pervasive, and they could be the next to go. This will result – if managed properly – in employees who will complain less, work harder, and become more appreciative of the job they have.

2. Adapting to change is key to success.

Change is one of the most misunderstood and feared actions in business. No one knows how to deal with it well. When things are going well, you don't want change. When things are going badly, change can't happen fast enough. To employees the fear relating to change is simply the fear of the unknown. People get into comfort levels and resist mightily when someone or something attempts to break that comfort zone.

Regardless of whether it's good or bad change, it rests upon management's shoulders to incorporate the changes with a minimum of difficultly. The first thing to do is find a way to make the change work for you and your employees. What can you do within your power to mitigate the negative aspects of the change? How can you emphasize the positive aspects of change, if any?

Next, realize that you're a leader. You are on stage. Your team will know your nuances, so you're not allowed to show frustration or weakness in front of them. Leaders lead - they say "here is the way I believe we need to go," and then go. This is the attitude you must take when managing change.

Some people never accept change. They are the ones who have to leave or they become so jaded and negative they no longer are functioning members of your team. When change happens, it happens. End of story.

Virtually any change breeds opportunity - the key is finding the opportunity and acting on it. Focus on the positive.

3. Wage & Hour lawsuits will become even more prevalent.

Your house needs to be in order before you take action. Labor lawyers are changing their practices to focus solely on wage and hour lawsuits, which are easy to prove and violations are myriad in businesses throughout the United States.

Employees everywhere are reading about the huge sums of money ‘won’ by disgruntled ex-employees filing lawsuits against their employers. The major focus will be on exempt or non-exempt status, meal and break periods and whether an ‘independent contractor’ should properly have been classified as an employee.

Think it can’t happen to you? Or is your excuse that you’ve never had it happen to you before?

All it takes is one employee to talk to an attorney. Ask Wal-Mart, Starbucks, Electronic Arts, and the thousands of small businesses that have paid hundreds of millions of dollars in the past year. If you’re going to terminate or reduce an employee, they’re going to look for a way to get money – especially in a dismal job marketplace.

4. The opportunity is now to do more with less.

If you're maximizing the people you have, you won't need so many people. You can get more done with fewer people. How? By knowing what your people do best. Evaluate your talent. Carefully consider your need for every one of your employees. Most businesses are not maximizing each and every employee they have. There are techniques available to ensure talent maximization. Find your best performers. Decide you can best support you and your efforts both over the next year and the next few years.

5. Businesses that communicate effectively are those who will succeed.

There is fear in the marketplace. Employees are wondering if you’re going to cut staff, perquisites, and their free coffee. They’re wondering what you are doing to sustain your business this year. It is imperative that frequent and clear communication lead the way to your success. Your employees are heavily invested in the success of their business, and they have a right to know what you’re doing. Even saying, “I don’t know” is preferable to not communicating. And you need to do more than put out a memo or company-wide e-mail. Your managers and supervisors must be empowered to candidly talk with their staffs as well. The last thing you need is to lose a great employee simply because they didn’t know what was happening in your business.

Before you consider cuts, survey your employees: What benefits would you cut if we needed to? You will be surprised that the suggestions you get. The things you think employees hold dear are not necessarily the ones they believe are important.

6. Adversity breeds innovation.

Too many businesses over the past several years have become complacent. And that complacency (“we’ve always done it this way”) has failed both businesses and employees. When times become difficult is the exact moment to innovate. I never saw a successful manager who didn't take a calculated risk now and again, or who was not considered an innovator. On the other hand, I've seen many average managers miss becoming great because they were afraid to make a mistake. Great leaders do not avoid or fear trouble: they embrace it.

Put together groups of your employees into focus sessions. Ask them what they would do if they were in your shoes. Encourage participation and never denigrate an idea. At this time – any idea is worthy of exploration.

Your competition will be inert this year. The best way to excel over your competitors is to honestly re-evaluate your business. Solicit the advice of your employees and make no pre-conceived notions of them.

For my book, I developed a list of hallmarks of great managers of people. Several years later, they are even more appropriate for business owners and leaders:

• Vision. They know where they want to go and, equally important - they know how to get there.
• Communication. They are world class communicators.
• Equality. They treat employees the way they want to be treated and they are no more demanding of others than they are of themselves.
• Decisiveness. They can make decisions quickly, are accountable for those decisions but are never so rigid they are wed to those decisions.
• Leadership. People want to work for them. (There's a big difference between liking someone and wanting to work for someone).
• Knowledge. They know their position, their industry and what their employees do better than anyone else.
• Accomplishment. They get things done.
• Style. They are not so entrenched with their professional lives they forget that a quality personal life is the most important thing to most people.
• Commitment. They are committed to the success of their business unit, of the people who work for him, and to the company they work for.
• Temperament. Employees want to work for a person who has a great temperament – someone who isn’t moody or subject to numerous highs and lows, but one who has an understanding that he or she is always on stage, because employees are always looking at their leaders to set high standards of both temperament and judgment.

In 2009, the business owner and leader who has the ability to honestly evaluate talent, performance and make the decisions necessary to sustain the business not just in the short term, but for the long term, is the leader who will be highly successful both this year and beyond.

Ways To Motivate Employees In Tough Times

While I don't agree with every suggestion offered by HR author Peter R. Garber, I do agree that innovative ways of motivation are crucial to maintaining a productive work environment in tough economic times.

Adversity breeds innovation. And businesses that think about innovation first are those that will succeed in this economy.

Courtesy HR Daily Advisor, through my friends at blr.com.

How To Avoid Burnout

The economy has moved the overall workforce from an 'entitlement mentality' to a 'I'm just happy I have a job' mentality.

But with layoffs already taking place and more sure to follow, it means fewer workers will have to work harder. This leads to stress and burnout - and this is a realistic theme for 2009.

It's a major decision for an employee to make - do I hate my job? Or, - am I burned out?

If you truly hate your job, you need to quit. Life is too short to be saddled with a miserable existence for one-third (at least) of your life.

But if it's burnout, there are a number of steps you can take to turn it around. It always starts with you. Only you can change your attitude.

Sherri Campbell and Bob Rosner of workplace911 have these tips on turning around workplace burnout.

Courtesy ABC Action News in Tampa Bay.

A "Family Atmosphere" in the Workplace?

I generally get concerned when hearing about a business that cultivates a 'family-like atmosphere'. Although noble in intent, the fact is that you are a business - regardless of your intentions or the size of your operation. I can list case after case where a business owner who wanted to create a 'family' atmosphere ended up getting burned by the eventual employee who becomes disgruntled at work.

And think of the phrase - "we're like a family here". Families have break-ups, problems and issues - and so do businesses.

So when I read this article in the Wall Street Journal, I had reservations.

Decagon Devices, a Pullman, Wash., scientific instruments and sensor maker with about 70 employees, won a Top Small Business Workplace award from the WSJ.

Decagon's CEO, Tamsin Jolley, admits that she had to let some employees go. Although those employees fit in with the corporate culture, they simply weren't doing the job.

It's a short but interesting read. And what I particularly appreciate about Jolley's comments is when she says

"...it has do to with the value we place on employees...I think it also facilitates communication and employee input across all areas of the company, because employees that know each other well are more willing to speak up and share their ideas with each other."

THAT'S a good corporate culture. Not necessarily creating a 'family', but creating a workplace conducive to communication and productivity.

Flexibility During An Economic Crisis

Some of the best advice I've seen for employers during this economic crisis is the need to immediately become flexible.

It's not as easy for large, entrenched companies as it is for smaller companies used to moving and changing rapidly.

But businesses that have adopted flex-options have saved real money by redistributing willing workers’ time. They’ve seen:

• Increases in both worker and client satisfaction;
• Retention of well-trained and productive employees; and
  
• An increase in employee morale.
  

Flexibility means creating a cohesive relationship between you and your employees. Before doing a knee-jerk reaction (eliminating jobs altogether), consider what alternatives are available. After all, when the economy rebounds eventually, you're going to need your best employees to help lead the way. Hiring a bunch of new employees when business picks up will not result in proportionately great results.

Consider, the following - as suggested by Dr. Malcolm Smith in the New Hampshire Business Review:

• Flexible hours that allow workers to get their job done and still have time for family and personal life needs;
• A compressed workweek that enables employees to work allotted hours over fewer days;
• Flexible leave, which allows for paid time off to care for children or aging parents, personal illness, personal issues and parental leave for birth, adoption or care of a foster child (this is required for all businesses in California and businesses with more than 50 employees nationally); and
  
• Flexible career-planning, which allows for phased–out retirement, as well as professional-development leaves and sabbaticals.

Most importantly - make sure to communicate frequently with your employees on your intentions - get their input. You'll be surprised what happens when everyone works together.

Leading Through Difficult Times, Part 2

I recently wrote about my own theories on managing and leading in a down economy. Maureen Moriarty, whom I respect and frequently quote, has her own (similar) theories. In a nutshell:

What can leaders do?

• Communicate frequently with the 3 C's: clearly, credibly and candidly. During a crisis, communication is more important than ever. Ambiguity and uncertainty equate to stress. If you go silent, people will make up their own stories about what's really going on with you and the company. Rumors often generate negativity and fan the flames of fear and anxiety.

• Keep connected. Manage by walking around. You can't afford during times like these not to know what's really going on. Be diligent in seeking out information, even the bad news. It's a mistake during a crisis to hide out in your office with the door closed. Nervous followers need comfort and reassurance from their leaders. Be visible and keep checking in with all levels of staff to see how people are doing.

• Ask yourself, "What kind of emotional wake do I want to leave behind me today?" The emotions of a leader are highly contagious, so work hard to manage your own anxiety. No one will affect the overall workplace mood and morale more than a senior leader. Be mindful that any negative comments or tone will carry impact. If you show up like a cat on a hot tin roof, your anxiety will spread like a wildfire. Manage your own anxiety by developing a "self-soothing strategy" you can rely on. Find someone you can vent to safely, such as a trusted outside adviser or coach who also can offer an objective perspective.

• Pay attention to task and people; be alert to their emotions. Don't fall into the trap of thinking all is well or that your people will simply need to "deal with it." Develop a proactive plan to recognize, identify and deal with current challenges and emotions in the workplace. Set time aside in team meetings to allow people to vent and talk about their anxieties and challenges. Listen and acknowledge what you hear them saying.

• Be the anchor in the storm; display calm confidence and optimism. Model what you want from your team. This is your golden opportunity to truly lead by example and live your values.

• Keep your team focused. Identify the single most important priority goal that everyone needs to commit to in order to weather the storm. Make sure everyone understands it and is clear what their part will be -- their action item(s) in helping the team achieve it. Let them know there will be no tolerance for the "it's not my job" syndrome for this goal! Create a measurable scoreboard for the goal, review it at every team meeting and recognize/celebrate critical milestones.

• Engage hearts and minds (particularly your top performers') to increase productivity. Facilitate a session to get all hands on deck. Bring the team or company together to brainstorm creative solutions for the game plan. Focus on core strengths and values, company vision and how to keep customer confidence high.

• Stay the course. Reinforce the plan with follow-up, recognition, redefining expectations and adequate resource support for weathering the storm. Retaining your top talent during slow growth will be challenging -- they get restless. Work to keep them engaged, well supported and rewarded. On that note, everyone's extra effort should be noted and recognized.

You can read the entire article here.

Courtesy Maureen Moriarty and the Seattle Post-Intelligencer.

Employee Morale and the Economic Crisis

From the incomparable Tom Peters:

Tough times are in fact golden opportunities to get the drop, and the longterm drop at that, on those who respond to bad news by panicky across-the-board slash and burn tactics and moves that de-motivate and alienate the workforce at exactly the wrong moment.

Tough times indeed require tough and unpleasant decisions—but thriving, not just surviving, is an option for those who mix wisdom and boldness of leadership with transparency and maximized employee involvement and engagement. Without suggesting that there is anything humorous about the pain that bad times cause, one can say that "this is when it gets fun" for truly talented and imaginative leaders at all levels and in businesses of every sort and size!

It's time to go back to basics. What were the decisions that got you to where you are today - both good and bad? The fundamentals of your success are still the same; it's the circumstances that are different.

Adjustments are necessary, but not necessarily radical ones. Don't forget where you came from and what got you there.