Most any manager can manage well, or at least look good managing, when times are good. Retention is as easy as it will ever be, budgets tend to grow to hide lack of controls, and others want to join your team, so hiring is easy too.
But during tough economic times, the professional manager has to manage with more effectiveness than at almost any other time. She is distracted by her own concerns, while having to keep tabs on the concerns of her team. She has to listen to the rumors flying around about layoffs and mergers and industry moves, and then apply them not only to her situation, but also make sense of them for her team.
And oh yes, she has to do all this and cut costs too. Listen in and we'll share the first rule of budget management in a downturn.
This Cast Answers These Questions
- How do I manage my budget in a downturn?
- How do I found budget cuts in a downturn?
- How do I report on my budget in a downturn?
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