Create Value: Protect your talent, reputation in tough times

The good news? More and more economists note a definite rise in key economic indicators, possibly signaling that the official end to this brutal recession may shape up later this year. The not-so-good news? The net effects of these cruel financial times may linger for months, even years.

Small and large businesses alike have already faced furloughs, payroll delays, benefit cuts and layoffs. More are promised in the coming months. With anxious employees and top talent possibly looking for a way out, will they still be around when times turn upward? Will your investors and stakeholders stay the course with you, or look for an exit strategy?

These are important questions. Here are seven considerations to ponder as you navigate the turbulent months ahead:

Do your customers, prospects and suppliers still know that you’re a going concern? If you’re like most commercial companies, you probably cut your advertising and marketing budget in 2008 to conserve cash. Now is the time to think about positioning, but not necessarily to move product or sell services. According to national economist and forecaster Alan Beaulieu, companies today should now begin raising fresh and positive awareness of their operations. Otherwise, given the instantaneous viral nature of online communication, unanticipated rumors about your company’s possible demise can shatter reputation and smack your otherwise solid bottom line in a hurry.

To read more of the seven considerations, go here: http://www.mekgrp.com/whitepapers/creating-value.html