Fire Power
There was something funny about the recession last year. In the
fourth quarter of 2001, productivity increased at a sizzling 5.2
percent for the nonfarm business sector as supposedly disruptive
layoffs continued to whack corporate jobs.
How could that be? According to data from international
outplacement firm Challenger, Gray & Christmas Inc., it seems
companies are learning to fire with laser precision. The average
tenure among the downsized shrank to 4.8 years in 2001 from 9.8
years in 1999. By retaining their corporate memories, companies can
make quicker decisions--a key to higher productivity.
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But thinking only about expenses when downsizing is
shortsighted. Keep your most productive employees, even if they
carry big salaries. The valuable employees aren't those who
once sold a big project. They're the ones who do it over and
over.
However, you can't expect long-term star performers to give
you their loyalty just because you didn't lay them off in a
recession. "Corporate memory is valuable," says
Challenger, Gray & Christmas CEO John Challenger.
"[Employees] expect to be compensated for that." Once a
recession is over, eyes will wander if you don't pony up.
Better Take a Book
Summer vacation is a great time to unwind. You get to spend time
traveling or hanging out with your family rather than worrying
about accounts receivable. Is it any wonder that it's also when
most of us reassess our lives? This evaluation sometimes generates
ideas that can spur your business to greater growth.
To help this summer's re-discovery process along, toss two
recent books into your beach bag. In Toxic Success (Inner Ocean, $24.95), Paul
Pearsall contrasts those who feel pushed with those who feel
pulled. The former drag themselves out of bed in the morning. The
latter bound into the day. Guess which one leads a more fulfilled
life? A clinical psychoneuroimmunologist, Pearsall suggests ways in
which toxic success syndrome can be turned into sweet success--and
no, that doesn't mean giving up your business.
Aspirations of Greatness (John Wiley &
Sons, $27.95) by Jim Warner approaches similar topics from a more
familiar perspective. A successful software entrepreneur, he sold
his company in 1992 and set off in a new direction. He became a
coach to other entrepreneurs, businesspeople and even clergy.
Through their stories, he explores the various paths that lead to
midlife crises. Then he sets about exploring ways to break the
cycle.
If you feel guilty walking away from your business for a week,
spending some of that time with these titles will ease your
anxiety. They help you think about the big picture and prepare
yourself to return to work recharged.
Business writer Chris Sandlund works out of
Cold Spring, New York.
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