It is been 2 weeks since we last interacted. It was quite busy weeks but it was not straight away the project delivery work that kept me occupied all thru. The team management – more of people management is the flavor of this month.
Problem: The same – recession and project delays. A couple of projects are put on hold. Team is on bench. Nobody is feeling secure in terms of job and senior management is not divulging on future plans. Though nobody is given that famous pink slips, rumors are buzzing around.
And to add woes (at-least for me), in these times couple of best performers got a new job offer and submitted resignation. Easy way out – let them go, reduce team size (cost cutting). Should I?
I went thru a study about an organization (say Somerset):
Somerset, during last recession period, lost one of its key customers due to payment upholding. As soon as the word spread, CEO asked for customer replacement and/ or cost cutting. As during that period, attaining a new customer was a little tough, things moved to Plan B – some pink slips issued & costs contained to make up for the lost customer. BUT, it resulted in loss of quality of the output and the major impact, Somerset, in next 3 weeks lost 2 more customers on poor quality reasons. CEO turned back to say the same – customer replacement/ cost cutting.
It is the vicious circle. What one can do to break it? Think over it and we will continue discussion…..
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