Showing posts with label Turnaround. Show all posts
Showing posts with label Turnaround. Show all posts

Wednesday, June 9, 2010

Putting People First

One of the most inspirational moments in my career happened when I was just a young accountant, starting off on a professional journey that lasted many years and eventually landed me in the United States. 

I was thrilled to have been invited to the company’s global seminar, held that year in Vittel, France, and I was totally wowed by the events and speeches but the special moment happened rather unexpectedly one afternoon when the founder and chairman and I were passing each other in a busy hallway.  He stopped to smile at me, reached out to put an arm on my shoulder and spoke with me for a few short minutes, asking me with an utmost sincerity how I was doing and assuring me that he appreciated my work and how important it was to the success of the group.

Imagine, the chairman of a global corporation stopping to give a moment’s attention to a little known employee from somewhere across the world !!  I did not get a pay raise but I was absolutely motivated to do more as a result of that encounter.  Maybe I didn’t or couldn’t work any harder after that but I have no doubt that the experience taught me how to be a more caring, approachable and effective leader. 

As we enter a new era of challenges as the economy slowly recovers from its dramatic downturn, corporations, executives and political leaders will have to learn new motivational skills.  If, as some economists have predicted, the rate of unemployment will remain stubbornly high for some years to come, wages will fall and that will in turn demoralized the workforce.  As their pocketbooks shrink, it will feed into the negative spiral downwards - corporations will attempt to boost profit margins by cutting costs, one of which may be through a greater exodus of jobs to countries with cheaper labor.  To break that vicious cycle, political and corporate leaders (the people with the means and the ability to influence the outcomes) will have to value the workforce in ways that they have not done in a long time.  Budgets will be tight (if they aren’t already so) and higher paychecks or benefits are harder to justify.  Absent those financial incentives, they will have to win their constituents’ trust, loyalty and hard work by demonstrating more of their humanity and show greater empathy and appreciation of their contribution to the company profits and to the country’s economy.  In short, they must learn to put their people first. 

I recently stumbled across an ancient Chinese philosopher as I was doing some personal research work.  Mozi (墨子) lived sometime between 470 and 391 B.C. and his teachings were quite startling and refreshing.  I was never much of a student of Chinese history when I was growing up so the discovery of other Chinese philosophers besides Confucius was a revelation of sorts.  If, like me, you’ve not heard of Mozi or his teachings before, it is quite fascinating to read.  The Stanford Encyclopedia of Philosophy has a write up about Mozi’s teachings.  [For a Cliffs Notes style summary of his teachings look up Mohism on Wikipedia.]

While imperfect, Mozi put forward certain thoughts that are worthy of further examination.  Among other things, Mozi taught that a leader’s role is to live up to a set of high moral standards that are inclusive and indiscriminate – and his followers would then emulate his example.  Failure to follow that principle would result in chaos and the loss of the leader’s mandate. 

In a section titled “Critical Assessment”, the author of the Stanford Encyclopedia’s entry wrote: “Model emulation is indeed a powerful educational process, as any parent knows, and many of our values and judgments are in fact learned by following the example of admired role models. Social coherence, peer pressure, and the approval of superiors are important motivational factors even for critical, reflective adults.”

If business leaders want to overcome the general perception that they are solely focused on profits and personal enrichment; and political leaders want to inspire their constituents to do greater good; they would do well to get down from their ivory towers and walk among the people and occasionally put an arm on a shoulder and offer that someone words of appreciation and encouragement.  As they see more of what the everyday man or woman has to go through to put a meal on their family’s dinner table, to put clothes on their kids and to send them off to school, they might regain their humanity and find it harder to justify the increasingly huge gap between their own paychecks, bonuses, stock options, etc., and the wages of the average workers. They will find it difficult to explain, to the people they have touched and connected with, why their jobs have been or will be sent overseas and they might even reverse the tide by bringing those jobs back to the US.  They will recognize that with a concerted effort by all, unemployment will ebb and consumer confidence and spending recovers, sales and profits will quickly grow again.

Half a century after Mozi’s teaching on inclusive care, Jesus taught his followers that there is no credit for loving only those who love them (Luke 6:32) and he gave us the “do as you would be done by” rule.  Our job on earth is to leave it a better place and we can only do that by putting people first.  Nothing is as important as how our actions (or a lack thereof) impact and affect other peoples lives.

Monday, December 7, 2009

Bringing Jobs Back

Despite a drop in the number of newly unemployed, the dismal real unemployment numbers in the US point to a need for drastic measures that will help stimulate job creation.  The Obama Administration recently held a Jobs and Economic Growth Forum to garner ideas that would help kick start a new phase of economic growth.  That effort is to be applauded and given full support by every concerned citizen.  However, grand schemes and efforts to reverse job losses stemming from the years of relentless exporting of manufacturing and all kinds of back office work to lower cost offshore centers will take time.  Congress will need to put aside partisan politics and dig deep for the courage and good sense necessary to pass laws and investment incentives that will smooth the passage for recovery without jeopardizing the future. 

In the meantime, we cannot just sit by and hope that things will change.  We cannot wait another year to replace ineffective members of Congress and put new ones in there that will do the will of the People who elected them rather than the will of the lobbyists and the people that employ them for their own selfish gains.  We cannot wait another year and see continuing job losses, even if it is at a reduced pace.  Clearly, those who have lost jobs since 2007 and are still unemployed or underemployed cannot wait another year, hoping that their unemployment checks (if they are collecting one – most self employed people do not even have that luxury) will continue and fearing the worst should any unexpected illness befall them as they lose their health insurance coverage.

As good as tax credits and new hiring incentives sound, they won’t immediately create or bring back jobs.  Corporations and businesses will not hire unless there is a demand for their products and services.  Tax credits are only good if they make a profit – if there is no profit, they won’t be paying taxes in the first place.

As concerned citizens, what can we do that will help turnaround the economy and will do so with an immediacy that the lawmakers can’t?  You might not think that as individuals, you’ll have much influence but you’d be wrong not to take into account the effect of critical mass – if there are enough of us who are prepared and willing to do something about it, WE can help turn the tide.

Starting with this holiday season, think “American” in all the things you buy and in the gifts you are planning for your friends and family.  Here’s a list of gift ideas that have a high American content and will help keep or create more American jobs:

  • Tickets to Broadway and Off-Broadway or any local theatrical and orchestral productions.  Attend a “Messiah” concert to get into the holiday spirit and bring a friend with you.  The Arts are hurting as corporate donors slash costs that do not help with their bottom line and as individual donors are faced with real or possible unemployment.  
  • Tickets on domestic airlines to domestic destinations for that winter break.  Airlines are very labor intensive (despite their automated reservation system) and they have the ability to quickly bring back capacity and jobs as demand increases.  Hotels, resorts and theme parks at your destination are also highly labor intensive and your patronage is a key driver.
  • Gift baskets filled with domestic products (wines, cheeses, fruits, jellies, crackers, etc.).  It may be chic to have imported gift items but they don’t create American jobs to the same extent.  American products are world class and, in most cases, less expensive than imported ones.
  • Gym / Sports Club Memberships.  Register yourself and your friends for a trial membership at a local gym or at a Yoga or Tai-Chi class.  If you like the experience enough (going with a friend always help), you might sign up for a more permanent membership.  These are again service oriented industries and quickly creates employment opportunities as class sizes are normally limited and each new class will require new instructors and support staff.  You’ll do yourself and your friend a world of good and you can work off the extra pounds from the many holiday parties and keep you fit for the challenges in the days and years ahead.  Think of your positive contribution towards reducing healthcare costs as well.
  • Sign yourself and a friend up for a class to learn new culinary skills, a new language or pick up defensive driving credits.  You’ll be a better cook and you and your family will eat healthier OR you’ll be better qualified for jobs that look to exporting American goods and services to overseas markets with your new linguistic skills OR you’ll save a few bucks on your car insurance.
  • Invite your friends from other countries to come visit America.  It is a beautiful country and there is so much to see and do and they can take advantage of the weaker dollar.  Sales taxes in America are very low compared to the VAT or GST levied in many countries.  Tourism is a big employer of labor and every direct job created has a multiplier effect, creating further (indirect) sales and jobs.

I’ve planted a few easy ideas on what you might do to help turn around the economy.  I’m sure that as you put your mind to it, there will be plenty more you can think of to add to the list.  The important thing is to ACT NOW and THINK AMERICAN.  Focus on the American Content factor (read my previous post) in what you consume and you will be instrumental in bringing jobs back the way your politicians can’t.

As I began to write this blog, I was reminded of a very short rhyme that I learned in grade school:

Little drops of water, little grains of sand

Makes the mighty ocean, and the pleasant land.

YES WE CAN MAKE A DIFFERENCE !!!  

Spread the word – share this blog with your friends.