RSS Follow Up to a Previous Posting Entitled: What Would You Do?

On December 10, 2010, I posted the following (potential) dilemma:

You are the leader of an organization that has been “running lean” for a number of years and, for the foreseeable future, it appears not much will change. While long-term prospects for the company appear satisfactory, benefits (including salary increases) have been curtailed in order to remain viable and competitive. Again and again, you’ve worried about the ramifications to employee morale. You have been transparent with your talent regarding the current and future; however, doubts about your own personal and professional fortitude to withstand the continued stress have become top-of-mind. 

Here are the questions I posed back in December 2010:

“What do you think are the three most important considerations that must be addressed to maximize your organization’s long-term prospects? And why?”

To answer my own questions, here are three considerations I would address in hopes of creating the best opportunity for long-term success.

  1. Evaluate Capacity to Lead
  • From a capacity perspective – both as an individual and as part of a team –  if I have doubts about my ability to lead, I need to come to grips with that reality first and foremost. It’s better to decide now if the organization may be better off with different leadership; or, perhaps recognize the need to invest in my personal leadership so that I can take my team to a higher level.

 2.       Paint an Organizational Picture

  • It is important to paint a clear picture of your vision for the future to all organizational stakeholders – if for no other reason than to keep people inspired and empowered. Whether the stakeholders are employees, clients, shareholders, vendors, or community partners, it is critically important to manage expectations appropriately. A realistic vision should help overcome lingering morale issues and stave off customer unease.

 3.       Prioritize Limited Resources

  • With limited revenue and an already lean-machine of an organization, how you choose to spend your limited resources now and in the immediate future could be the difference between success and failure long term. In order to identify these organizational priorities, I would immediately create a business plan that includes a SWOT analysis (strengths, weaknesses, opportunities and threats). I would include as many of my key personnel as possible so that they could help champion the outcomes with other team members. To the extent that I could rally the “troops” around a plan that ultimately becomes “ours” instead of “mine” should significantly improve our long term prospects.

 There are literally dozens of considerations that could be identified. I welcome your comments to my thoughts; opposing or otherwise. Please continue to offer new thoughts and perspectives on this particular topic and don’t be surprised if you see the discussion thread continue throughout the year.

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Home About Archive Mitch HagstromMitch Hagstrom
Executive Vice President
Chief Banking Officer
Pacific Continental Bank

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