What have we learned from 2011? 4 New Year’s Resolutions for 2012
As the calendar turns to a new year, it is time to reflect on successes and failures of the past year in order to grow and improve in the next. New Year’s resolutions are infamous for being abandoned before the goals are met. They sound good, but are often unrealistic. Some people’s goals are too lofty while others set too many.
The same could be said of year-end “advice” lists such as this one from Fast Company. I do agree with everything on the list, but it’s far too many points for most people to adequately tackle. Why set yourself up for failure? I’m not saying you should throw yourself softballs that are too easily achieved, but starting out by overreaching will only frustrate you that much sooner. Think about the things that you need to improve and that are reasonably attainable, and then go for it.
New Year’s resolutions aren’t just for individuals, but are also helpful for organizations as they plan for the year ahead. One way to start is by examining the headlines for examples of winning practices to emulate and epic fails to avoid.
1. Make succession planning a priority.
It’s better to plan for succession than react to a void. This is especially true for CEOs and senior executives, but the sentiment – and sustained performance – carries down throughout the organization. There are many reasons why positions open up, and some are out of your control. You have to look forward to who would be the best candidate to fill a role if it becomes vacant.
Steve Jobs stepped down as CEO of Apple weeks before his death. Had they waited until Jobs had passed, there could have been disruption and uncertainty at best while they tried to find the right person to fill enormous shoes. But the transition from Jobs to Tim Cook was smooth and reassuring.
Other companies with high-profiles departures or additions in 2011 included:
2. Emphasize customer service and loyalty.
One of the most popular Tweets of 2011 came from Peter Shankman as a mock request to Morton's Steakhouse requesting that they meet him at his airport arrival gate with a porterhouse steak. Morton’s took him seriously and provided over-the-top service to demonstrate the lengths they’d go to delight their customers. That was the highlight of the year…
Unfortunately, companies such as these made grave errors which jeopardized their reputations and put customer loyalty to the test:
- Netflix seemed to enjoy a considerable dominance over the movie rental market until they announced a change that would split their DVD and streaming businesses, raise their rates, and rename the DVD arm “Qwikster.” After an outcry from customers and critics, they decided not to follow through with the renaming, but did change their pricing model. I’ve lost count of the number of mea culpa emails from CEO Reed Hastings.
- One of the most popular stories of the year was the snake that escaped from the Bronx Zoo in New York City. Luckily no one was hurt, and I don’t recall hearing that a specific individual or procedure was to blame. However, the cat lost by American Airlines later in the summer was clearly the cause of a negligent baggage handler and not only yielded a bereaved pet owner, but legions of angry customers who will think before trusting their precious cargo to American.
- In a move reminiscent of Bank of America’s mid-summer $5 fee for debit card use, Verizon raised the ire of customers in December by announcing that they would begin to charge a $2 fee for monthly payments in an attempt to persuade customers to set up automatic payments. And like BoA, a backlash prompted Verizon to back down and drop plans to charge the fee. One has to wonder not only “What were they thinking?” but also which company will be next to try to pull a fast one.
3. Prepare for crisis management and operational contingencies.
There are so many variables that can affect your business, from a striking workforce at one of your major suppliers to the weather. Consider the impact on business from the devastating tsunami in Japan in March to the Mid-Atlantic states being hit by an earthquake and hurricane (Irene) in the same week. One can’t ignore the impact that the weather can have on your business.
I don’t know what the odds are that you’ll be hit by an event such as these, but neither do you. Can your employees work remotely? Do you back up your data offsite? (Many companies advise backing up out of the region in the event of a local catastrophe.) Think through your operations and get ahead of what-if scenarios that could shut down your business for a length of time.
4. Get ahead of scandals.
Speaking of getting ahead of trouble, another theme that dominated the headlines in 2011 were scandals. From the Rupert Murdoch/News of the World phone hacking investigation and hearings to the abuse allegations at Penn State and Syracuse, these events should serve as warnings to management and PR experts alike: don’t try to bury or avoid the story. Try to avoid scandals, but if one pops up, get ahead of it! Be open and transparent as well as swift in taking action to address the situations. Conduct pre-hire assessments and background checks on those you intend to hire and hold your employees to high moral standards.
If you need help with strategic workforce planning, we suggest test driving our Profile XT assessment - 100% risk free!
Image credit:http://dryicons.com/free-graphics/preview/2012/