Are you feeling tired and depressed? Did you know that you may be suffering from Recession Fatigue? Did you know it's a real, economic syndrome? Today's Top Management Conference attendees found out from NAPL's Chief Economist Andy Paparozzi that it's real and there are techniques for countering the what appear to be the never-ending onslaught of bad news.
"Andy's the only economist I ever met who makes sense," says Jim Clark, Director of Business and Customer Services for McNaughton Gunn, Saline, MI. "Everyone can learn from him because he puts in terms that printers understand. For instance, most economists just talk doom and gloom, but he doesn't. He gives you tangible things you can do for preparing for coming out of the recession."
Some of Andy's tangible suggestions included:
- Recessions are no time to be modest. Customers are looking for experts. Make sure they know you are one of them.
- Your employees are suffering from recession fatigue as well. Make it part of your job to keep their morale up either through inexpensive recognition rewards, or plain old pats on the back to reassure them.
- Communication is key. Employees are more afraid of what they dream up may be happening than what actually is happening. Don't make a bad situation worse. Tell them the truth and keep them focused on work not rumors.
Quoting NAPL president and CEO Joe Truncale, Andy noted: "Recessions aren't a time to do something. They're a time to do something smart."
Why? Because Andy noted the Recession is long, but it won't be forever. When it's over, one thing will be for sure. "We're not going back to business as usual," Andy said. The time to prepare is now.
~ Rhona Bronson
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