In this series, we’re discussing preparing for economic storms. We’ve discussed getting closer to your customers and hiring freezes, the third step you might consider is to trim expenses. In 2009, the economy was crumbling. For those who adjusted and weathered the storm, I heard many tell me a similar story. They discovered that during the good times they ...
In this series, we’re discussing preparing for economic storms. After staying close to your biggest customers, the second step during a recession is to consider a hiring freeze. As a good shepherd, you should protect the jobs of your existing employees. By adding team members during a downturn, you may risk needing to make hard decisions later. Instead, if ...
In this series, we’re discussing preparing for economic storms. With inflation and interest rates soaring and the stock market crumbling, the storm clouds appear to be rolling in. One of my favorite indexes is the National Federation of Independent Business Optimism Index. Because it’s a survey of small business owners’ perceptions, it has helped predict economic storms. In ...
When I was young, clothes dryers were a luxury. We took our clothes outside to our clothesline and hung them up for the sun and wind to dry. This required remaining alert for upcoming storms. When dark clouds rolled in or the wind whipped up, we knew to prepare for the storm by gathering our clothes before they were ...
For the first time, it cost me over $50 to fill my car with gas. For me, $5 per gallon gas is an annoyance, but it’s not devastating. For many front-line workers, however, $5 a gallon gas, can devastate your employees and their families. Much more than your highest paid people. These pain points can impact your team’s ability ...
As an optimist, troubles must stack up pretty high before I begin to feel discouraged. However, I had one of those weeks recently. Our upcoming event was becoming overwhelming. We were experiencing some online problems and I learned of some customer issues. The discouragement was building. I needed solitude. As I took a car ride, I prayed and asked God ...
The nature and culture of the workplace has changed dramatically since 2019. In 2019, only 4% of professionals worked remotely, today it’s 15%. Inflation was only 1.81%, today it’s 7.9%. Pre-Covid, only 10 million people knew how to use Zoom; today that number is 300 million. With the stress of the pandemic, racial tensions, and political polarization, 40% of employees ...
There’s an adage that “the customer is always right.” Unfortunately, that’s not always the case. Sometimes customers are just mean and unreasonable. This year we have seen an unprecedented number of assaults on airlines as tensions seem to skyrocket. Many flight attendants have been cursed and even assaulted for trying to do their jobs, especially their legal requirement to enforce ...
Recently, millions of people have unexpectedly resigned from their jobs. This has led to what many have called the “Great Resignation.” This Great Resignation has caused a shift in the marketplace and has left a Great Disruption. It has disrupted businesses, loaded additional work on already overworked employees and has disrupted friendships. As employers, we need to pause and consider ...
For decades, retail stores counted heavily on Black Friday to meet their annual sales goals, especially small independent retailers. Covid, however, upended that long time business strategy. In 2020, according to the Washington Post, in-store shopping fell 37 percent on Black Friday from 2019. Although many might hope that Black Friday will return to normal, this is unlikely. Independent retailers ...
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