Decision-MakingFocus/ComprehensionProfessional Skills

Make Strategies in Advance to Deal with Crunch Time

Be it customer service or employee retention, improving people in the nick of time is one of the toughest situations a leader must tackle.

In this article at The Bridgespan, the author explains the significance of people management during a crisis. So, do not wait for a calamity to occur, form strategies in advance with your staff to deal with a crisis.

The Practical Solutions

Being in a fast-progressive corporate world, having enough time in hand is a delusion. The fact remains that you cannot do everything, but you must manage time to stay on the top. Here are eight steps to help you manage through tough times:

  • Act Quickly, Plan Possibility: Tough times call for speedy action, cost reduction, and new initiation. However, a contingency plan is pivotal. Keep a watch over emerging developments and potential roadblocks.
  • Core Protection: Financial constraints restrict you from pursuing current activities. So, this is the right time to allocate unrestricted funding and critical talent to the programs and services.
  • Identify the Significant People: Every organization has a set of growth contributors. They are the best leaders, distinctive experts, and culture carriers. Identify these people to support you in thick and thin.
  • Coordinate with Key Funders: Try establishing new funding relationships. You may ask the existing funders to talk with their peers on your behalf to support in the tough time. A referral from a trusted source might induce more co-investors in your account.
  • Shape Up Your Organization: Tough time is the best to take advantage of low-cost opportunities to lift internal operations. You need unlimited funds to make operations more impact enduring. So, save now for crunch time.
  • Collaborate to Reduce Cost: Combine operations with another nonprofit organization to reduce back-office costs and create economies of scale. Collaboration needs time and effort. Sometimes collaborations fail. So, be wary of costs, benefits, and risks before proceeding.
  • Board Members’ Involvement: The board members can make a significant contribution in providing expertise, helping to reduce pressure, and raising funds.
  • Open Communication: Tough times call for open and frequent communication from the leaders. Employees must know that the leaders are efficient in handling their problems and have plans to address any risk. So, design consistent talking points for the employees and board members to help each other in tough situations.

Click on the following link to read the original article: https://www.bridgespan.org/insights/library/strategy-development/eight-steps-for-managing-through-tough-times

Show More
Back to top button
Close
X

We use cookies on our website

We use cookies to give you the best user experience. Please confirm, if you accept our tracking cookies. You can also decline the tracking, so you can continue to visit our website without any data sent to third party services.