Preparing for a Recession Recovery | Leila's House of Corrections

The green shoots of an upturn seem to be popping up, slowly. Even the Federal Reserve chairman says the recession is over. And while it may take some time for the recovery to trickle down to businesses, this is no time to sit back and wait. So come on managers, let's prepare for better times!

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I'm crossing my fingers, just like you. Could things actually be, yikes, getting "better"?

Individuals and companies who will thrive in the future won't do so by accident -- but with purposeful thinking.

Here are some things NOT to do as the fog of the recession burns off.

#1: Don't rush to hire.

It may be tempting to use new or additional resources to hire people, especially if you've laid off staff in the last few years. Relief seems right at your fingertips: must post on Craigslist! But before you do, think about the whole picture of what it costs to employ someone: salary, employment taxes, materials, benefits, etc. Also consider the contingent workforce. What about a part-time role? Thought about a contractor? Assess what skills are essential for existing projects, for how long, and at what depth.

#2: Don't forget about next year--and the year after. Be strategic.

One of the most painful--and accurate--pieces of feedback I received early in my career as a manager was that I was too comfortable with the black and white. I wasn't at ease with the gray. I wasn't strategic enough. Ouch.

As the recuperating economy cascades down to your level, to your company, it will be enticing to think day to day, deal to deal, project to project. Instead, you must continue to plan for the future. Make sure that you are spending time and resources on researching the next generation of your product or service. Innovation doesn't just happen. Make it happen.  

#3. Don't cut back on face time with your team.

Now that things are "better," I can scrap all those pep talks with my employees about how to stay focused and motivated during the recession, right? Sorry, no.  

If tough times had you speaking regularly to team members about what to do and how you can help, keep it in your manager toolbox. The economic outlook won't drastically improve in the next few months. And such conversations with your team are morale builders- whether we're in a recession or not.

The recession forced many of us to alter our behaviors. We reduced spending. We operated more efficiently.   And what we discovered is that not only can we do more with less, but we can make money with less.

Practices for hard times are now practices for the best of times.