Preparing for the Recovery: Five Ways to Get Your Organization Ready Now

Accenture offers a guide.

Companies have expended much emotional and financial energy in dealing with the fallout from the recent economic turmoil. But there is no letting up. Business leaders must begin to prepare their companies for recovery now.

Preparing for the eventual recovery of the global economy needs to be done now. As previous downturns have shown, the strongest and most agile companies have used periods of economic strain to reposition themselves for high performance in their markets, pulling ahead of competitors and gaining a new, long-term dominance.

Having the right strategies in place is only the beginning. Companies also need to have the right organization—capabilities, talent, leadership and culture—on hand to identify and then seize new opportunities.

The downturn represents a window of opportunity to drive far-reaching change as investors and employees are all expecting it—and even supporting it. Do not let that opportunity go to waste.

Based on its research-based understanding of high performance and its extensive experience helping leading companies navigate out of previous downturns, Accenture has identified five critical areas of focus for companies:

• Reposition your workforce. The recession has entailed the reduction of head count, and yet most companies cannot readily identify their most strategic performers. Companies need to analyze the capabilities they have versus the capabilities they need.
  
  
• Create a more collaborative and innovative culture. To ensure they are at full strength for the recovery, companies must break down silos and provide ways to connect people and ideas.
  
  
• Develop a new generation of crisis-tested leadership. An unexpected benefit of the current recession is that it has acted as a crucible in which leaders have been tested and proved as never before.
  
  
• Strengthen talent management processes and systems. Building a more agile workforce and organization ultimately requires integrated talent management processes.
  
  
• Create a more engaged workforce and management team. If the company is to succeed in the new economy, it is vital to ensure that the workforce—particularly the key talent and critical workforces—are fully engaged. Attrition rates may be low at present, but could be hiding employee dissatisfaction. (In “The New Talent Equation,” the Accenture Institute for High Performance has identified three keys to improving the engagement and productivity of the workforce.)
  
  

Contact us to find out how Accenture can help your company prepare for the recovery.

Yaarit Silverstone is the managing director responsible for organization effectiveness offerings and capabilities within the Accenture Talent & Organization Performance service line.