How can there be light during a downturn? By using their expertise, workplace learning and performance (WLP) professionals have been given a torch, to help their organization survive the downturn and allow them to emerge in a stronger competitive position when the economy recovers.

In the current economic downturn, organizations have been forced to use cost cutting strategies. Departmental budgets are being trimmed, with the learning function being no exception. Learning and development functions are not only being pushed to economize spending on learning activities, but to simultaneously continue to build critical skills and knowledge. A new report by ASTD and i4cp, Learning in Tough Economic Times, indicates that between a fifth and a quarter of respondents said that, to a high or very high extent, the down economy has had a negative impact on each of the following:

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Tags: learning in tough economic times, economy, downturn

Categories: Research

Oakbrook Terrace, IL (PRWEB) March 18, 2009 -- A recent online survey taken by the employment professionals of TRS of Oakbrook Terrace shows that many executives feel that their job or their company's position is at risk or that they have limited advancement opportunities.

The TRS Oakbrook Terrace survey of over 100 executives who are in an active job search, shows that 17% are "uneasy about the future" - 17% say that their "job is in jeopardy" and 18% feel they have "limited advancement opportunities." TRS says that this means 34% feel that their job is at risk.

The most staggering statistic according to TRS however, was that 40% of the job seekers said they were "unemployed with no luck in their search." One other category showed that 8% were consultants looking for the "security of a real job."

"The fact that 74% of executives and professionals who are currently in active search mode are either unemployed or fear that it unemployment may be forthcoming is quite a surprise," said the Oakbrook spokesperson for TRS.

(Read the original release on PRWedb.)

Tags: leadership, economy, corporations, downturn, executives

Categories: News

NEW YORK--(BUSINESS WIRE)--"Talent management and succession planning are more critical during tough times to avoid talent shortages when the economy improves" says Darleen DeRosa, Managing Partner of OnPoint Consulting.

Rather than slashing budgets, Dr. DeRosa suggests five strategies:

• Focus on critical leadership competencies. “Rather than offer ‘leadership development 101,'” says DeRosa, “it is more effective to assess the competencies or skills that are critical to the future success of the business and focus development in these areas.” If Innovation and Strategic Thinking are important, then companies should offer leadership programs that help leaders build these skills.

• Take learning out of the classroom. “A large northeast insurance company recognized that its leaders needed to enhance their financial acumen,” recalls DeRosa. “The CEO sponsored an action learning initiative where senior managers worked in teams to solve two business issues. They generated solid recommendations while also gaining financial knowledge.” Cross-functional teams and rotational assignments can also be used to help leaders enhance skills on the job.

• Focus on high potential leaders and critical roles. Rather than a “one-size fits all” approach, focus on high potential leaders who are critical to the company's success. Use some form of leadership assessment to provide objective data to help develop these leaders. DeRosa also recommends “determining what roles are of strategic importance to ensure that there is a talent pipeline for those roles.”

• Offer alternative delivery strategies. Due to travel restrictions and cost reductions, offer online training or a combination of web-based and face-to-face training. Some organizations are leveraging internal resources to facilitate their leadership development programs. “Rather than simply reducing the number of programs, use creative ways to ensure that leaders receive the necessary training” says DeRosa.

• Measure impact. Companies with data on the return on investment (ROI) of their leadership development initiatives have a powerful business case. “Executives who value strategic talent management continue to invest in their leaders,” says DeRosa. A measurement plan will demonstrate the impact that these initiatives have on business performance.

Companies that invest in talent will be better prepared to take advantage of the upturn when tough times are a thing of the past.

Tags: leadership, economy, corporations, downturn, talent management

Categories: The Economy

NY Metro (PRWEB) March 11, 2009 -- CEOs will be the single most important people in saving the economy, but not if they are "doing what they best." President Obama and the Congress did not cause the current economic crisis and their bailouts will not be able to fix it. It was created within the business world and that is where it will be solved. This makes CEOs the vanguard of any recovery.

"Right now CEOs are trying to be 'good CEOs,' and that's the worst thing they can do," says Erik Luhrs of CEO ROI Systems, Inc., the author of a new white paper on CEOs and the economic recovery. "By 'good' I mean that they are doing what they were trained to do. But as Einstein said: 'You can't solve a problem with the same mind that created it.'"

Drawing parallels with 9/11, Luhrs states that the our recent economic troubles were not caused by the subprime mortgage debacle, NAFTA, the rise of China and India or any other "cause" seen in the news. Instead he says the cause is the rapid transition from the Industrial Age to the Information-Technology Age. He claims that CEOs who were trained in Industrial Age thinking aren't ready for this new Age and they don't have the ability to fix the troubles they've gotten into.

(Read the entire release on BusinessWire.)

Tags: leadership, economy, corporations, downturn

Categories: The Economy

(PHILADELPHIA, BUSINESS WIRE) The world’s Best Companies for Leaders—among the world’s most respected—are focused on developing leaders who will not only survive and thrive in the current financial crisis but will be well positioned for growth once the economy improves.

The 2008 Best Companies for Leaders survey—conducted by management consultancy Hay Group and Chief Executive Magazine—identifies the top 20 best-in class companies (see below) as well as the attributes that make these companies known for great leadership. The research suggests a number of best practices to help organizations and their leaders navigate the significant challenges brought on by the economic downturn as well as key tips to prepare for the upswing.

Surviving the downturn

When asked what organizations value the most in leaders, 83 percent of the best in class organizations as compared to others said “execution”. Organizations value leaders who can achieve results through others. These leaders create a climate in which people know exactly what is expected of them. In ideal times, the survey results showed, people value authoritative and democratic styles of leadership in comparison to the other four styles of coercive, affiliative, pacesetting and coaching. In tough economic times, employees’ desire more communication and clarity around goals. They want their leaders to become more visible and to be leading from the front. Typical leadership styles which accomplish this include authoritative with some coercive and pacesetting when needed.

During tough economic times, best-in-class companies create clarity, encourage development, drive accountability and recognize successful leaders. 65 percent of the top twenty companies on the list hold senior managers accountable for commitments versus 36 percent for all others. 63 percent create a sense of purpose for employees by communicating values versus 43 percent for all other companies. 45 percent honor leaders within the organization versus 32 percent for all other companies.

In addition, 62 percent of respondents indicated that matrixed roles are increasing in their organizations. Managing in a matrix poses its own set of challenges, including the need for collaboration, creating a cohesive team, not having authority over resources, managing conflicts over differing agendas, goals or priorities, and minimizing confusion over roles, decision-making and accountability.

Hay Group says that there will be an increased emphasis on the skills needed to work in a matrix environment. Relationship building, influencing, adaptability, interpersonal skills and collaboration skills will all be more important in the future workplace.

“The conventional top-down chain of command is yielding to decision-making that’s spread across business units, executive teams with far-reaching authority and other activities that reflect a brave, new, flat business world,” said Rick Lash, Hay Group’s national practice leader for leadership and talent.

Preparing for the upswing

The Hay Group/Chief Executive survey reveals that the top 20 best companies for leaders make leadership development a priority. 70 percent of the top 20 companies say they have a formal process to identify individuals for leadership roles, versus 37 percent of all companies. 65 percent of companies say that talent management is driven by a clear business strategy versus 39 percent of all other companies. 55 percent have formal programs to accelerate leader development versus 34 percent of all other companies.

“What we have been seeing in these uncertain times is that organizations are not pulling back on their development of leaders, primarily because organizations recognize they don’t have the depth of leadership they need to meet future demands,” said Lash. “This year we have seen the best in class organizations become more focused, investing their assessment and development on their best leadership talent, rather then providing across the board development for everyone,” he said. “The Best Companies for Leaders are making serious investments in leadership development,” said Lash. “Development opportunities include special projects, assignments, and online training programs.”

Hay Group is a management consulting firm that works with leaders to transform strategy into reality. We develop talent, organize people to be more effective and motivate them to perform at their best. Our focus is on making change happen and helping people and organizations realize their potential.

We have over 2600 employees working in 85 offices in 47 countries. Our clients are from the private, public and not-for profit sectors, across every major industry.

Tags: leadership, economy, corporations, downturn

Categories: The Economy