AchieveGlobal recently investigated how leaders are reacting to economic turmoil by conducting a research study with 250 managers in March 2009. The intriguing results of the survey are showcased here.
in Challenging A BUSINESS ISSUE
Leaders are employees, too. Like their teams, • 75.2 percent of companies have cut About AchieveGlobal
leaders also feel the sting of daily business discretionary spending. In the 21st century, the level of human
events: shriveling market demand, budget cuts, skills will determine organization suc-
• 65.2 percent have stopped hiring.
office and plant closures, insolvency, and round cess. AchieveGlobal provides
after round of layoffs in nearly every sector. • 51.2 percent have frozen pay.
exceptional development in inter-
• 49.8 percent have laid off employees. personal business skills, giving
Y sad to say, leaders also suffer in other ways.
• 20 percent have cut working hours. companies the workforce they
Leaders alone face the daunting task of keeping
need for business results. Located
other employees engaged and productive – in • 19.6 percent have reduced employee benefits.
in over 40 countries, we offer
spite of non-stop bad news and visceral threats
• And 15.2 percent have closed locations. multi-language, learning-based
on every side.
Abandon All Hope?
Just how challenging is their role? What are and locally.
In several clear signs of flagging organizational
they able – or unable – to do to keep employees
hope for a quick economic recovery:
engaged and productive? We understand the competition
• 59.6 percent of leaders predict a hiring freeze you face. Your success depends on
AchieveGlobal set out to answer these and through 2009 people who have the skills to han-
related questions in a recent survey of 250 lead-
• 43.6 percent expect downsizing or layoffs dle the challenges beyond the
ers, from shop floor to C-suite, in a range of
in 2009. reach of technology. We’re experts
in developing these skills, and it’s
Even more unsettling, of leaders whose company
Our findings underscore the ferocity of today’s revenue actually grew in 2008: these skills that turn your strate-
economic firestorm as well as the practical gies into business success in the
• 62 percent report cuts in discretionary spending. 21st century.
ways that leaders attempt to deal with the
aftermath. • 55 percent report a hiring freeze – little
different from companies whose revenue These are things technology can’t
Like a hundred-year forest fire, this global crisis shrank or remained flat in 2008. do. Think. Learn. Solve
offers a unique if unwelcome chance to see how problems. Listen. Motivate.
leaders perform in the most menacing econo- Further, leaders report widespread spending Explain. People with these skills
my in 75 years. cuts for employee recognition, training, new
have a bright future in the 21st
projects, R&D, and innovation.
century. AchieveGlobal prepares
Let’s Get This Straight: It’s Bad
you for that world.
No one needs to tell us the recession is wide Sudden Impact
and deep – but how wide and how deep? Predictably these depressing trends have a
depressing impact on productivity and morale:
46.8 percent of leaders in our survey say their
company’s revenue has declined – 22.6 percent • 21.1 percent of leaders say that productivity has
say the decline is “significant” – in the past 9-12 decreased in the past 6-12 months.
months. In response:
Developing the !"st
century workforce TM