Few organizations are immune to the financial crisis. The recent findings of several business strategy reports contain some concerning details, much of which is already known and evidenced by the actions of a growing list of organizations who are responding by deferring projects and cutting jobs. The frightening reality is that many organizations are just getting started in their responses to the market conditions.

One of the hardest things to achieve during a market downturn is to maintain positive momentum. The chief executive officer and the senior management will bear the brunt of this challenge and so to will the workforce, especially if positive momentum within the organization is not established and maintained.

One of the biggest disruptions to an organization in these times is restructuring. Businesses and leaders are looking for ways to manage their costs more closely through strategic reviews and structure assessments in the hope they can be more efficient in going about their business.

Before and after a restructure, communication and the way the restructure is executed are critical. If you have to do it, do it fast, do it honestly and do it compassionately. Be fair in the way you let the person go. Because nothing can change what the answer is but a lot can change in how you do it - people will always remember that. Understandably leaders need to be swift and frank in anticipating and adapting to current and unexpected workforce issues. Hard survival decisions, as opposed to growth decisions, need to be made quickly in an environment where there are huge expectations of both leaders and the workforce.

Success amid uncertainty is about taking control and positioning the organization to leverage the opportunities that are still prominent in this market. Areas that are critical to get right during these times are:

·         Effective workforce planning to ensure you are able to meet ongoing challenges and market changes

·         Talent optimization through identifying, attracting, assessing  and retaining talent

·         Flexible workforce planning options

·         Reviewing operational cost efficiencies

Leaders need to identify strategic and tactical solutions that are going to mitigate the risks associated with unpredictable market environments. It is critical to execute a supporting communication strategy to regularly share the responses with the organization. Concurrently, leaders need to anticipate the reactions of their workforce to these tough decisions and actions.

Failure to plan and execute practical initiatives around the reactions of your workforce in these times can cause long-term damage to the reputation of the organization. There will also be ramifications such as loss of your pivotal talent and loss of business opportunities. In addition, when the market eventually turns around you may face the challenge of a damaged employer brand which prevents you from attracting key talent back into your organization.

The earliest prediction of a positive shift in the market is still two years away. This means that organizations cannot weather the storm by simply lying low.