Dilip Saraf’s Responses to ExecuNet Questions: Year-end Goals for Executives

These responses appear (launched with bolded phrases)  in the December issue of ExecuNet’s CareerSmart Advisor as a part of a bigger article to which Dilip contributed.
1. What are some organizational goals executives should focus on accomplishing before the end of the year? Should they revolve around team building, cost cutting, improving efficiencies?

By any standards, this year has been a whirlwind period with many sudden developments and some exciting changes. The financial headache that started late in 2008 came to full convulsion early this year with frozen credit to a point where even established businesses, which enjoyed AAA credit rating before, had to borrow cash from whatever sources available—as GE did from Warren Buffet’s personal account!—to keep their businesses financed. The new Obama administration brought with it its own excitement and anticipation—and uncertainty.

The result of these shifts was a major regrouping for most corporations, where they had to re-purpose themselves and put aside their carefully crafted yearly strategic plans just to deal with the tsunami. Now that the economy is on the uptick it is time to repair some of the damage that has been done as a result of this uncertainty and to revisit what they started a year ago to get back on track. The following is a checklist of what executives can focus on as the year comes to a close:
I. Most employees have been shell-shocked by witnessing the massive lay-offs of those around them and are facing “survivors’ guilt.” The managers who laid them off (and the HR people involved) are also suffering from “executioners’ shame!” Starting with the employees and managers it is a good idea to reassure them that better times are now ahead and that they should focus on serving the customer and that they should not worry about further lay-offs. This is an important step in stabilizing morale at the workplace.
II. Many companies ignored the customers during the tough times and got focused on cutting costs, reducing services, and treating customer as an impediment to their objectives. It is time to revisit that mindset and start repairing the damage caused by it. Everyone in the company must be reminded that they are in their jobs because of the customers and they must keep customers their top priority.
III. Many companies are working with minimal staff forcing those employed to put in inordinate hours just to keep up. Hiring additional help, even contract workers, will show that the company appreciates their extra efforts and is now ready to provide them some relief.
IV. Working with teams for finding avenues to make the entire organization more agile to deal with changes that cycle through economies, playing havoc if the organization cannot deal with them adequately. Agility is the next competency that all organizations are going to have to develop.
V. Providing employees some avenues of support for their own professional development—which was put aside for cost reasons during the year—must be brought back to develop loyalty and to increase employee value to the organization.
VI. Finding new ways to be more effective, not just efficient, to free employees from boredom at work and unleashing their creativity. Providing a work environment where repetitive and boring tasks are handled through automation and robust processes is one way to reward employees through better work environment.
Many of the initiatives that organizations undertake such as team building, cost cutting, quality improvement, and productivity enhancement, among others, as a reaction to changing environment must now be integrated in everyday workings as each employee’s habits. Managers must set up infrastructure, measurements, and provide incentives to make these habits a part and parcel of their job description. This is now required because the uncertainties that we saw in 2009 are going to be more of a norm than an exception. So, to deal with this every organization must have its act together to be able to succeed despite these uncertainties. The spirit of renewal must also suffuse through all executive actions as the year comes to a close. This will provide a reenergized outlook on the part of employees to rededicate themselves to their jobs in the coming New Year!

2. What are some individual goals an executive should now work to achieve? Do these include networking and other career management efforts?

On the personal front many executives suffered through a traumatic year because of their changed responsibilities during very tough times. In the processes their personal and family lives took a toll. The first order of business for most executives on their personal front is to bring back some balance to their work-life calculus. Work-life integration is a less stressful phrase to describe what must be achieved because work-life “balance” is almost impossible to achieve without causing stress by adhering to the very concept of balance.

The next priority is to build the friendships back and to nurture them where a good support system is once again available in times of crises. Networking with peers and professionals is the next priority. Because in these uncertain times you must have a strong network to land on your feet when going gets tough even for you.

If you feel burnt out and are looking for a career change this is the time to visit a career coach and get some guidance on how to pursue your passion to reenergize yourself and rededicate the next phase of your life to a new and exciting pursuit.

3. How can an executive best determine which goals deserve the most attention at this point in the year? How should he or she prioritize these goals, and perhaps designate some goals to instead work on in 2010?

The goals that deserve the most attention are those that allow you to keep your business going, especially because how little time is now left before the dawn of the new year. So, if the revenues are down and profits are suffering this year it is time to do some end-runs to achieve those goals to the best of your abilities. If your actions now will better position the business in the coming year it is time to focus on those so that as the new year approaches you are better positioned to move forward in earnest.

4. If these goals are related to tasks that executives don’t like or aren’t good at (and perhaps that’s why they haven’t accomplished them yet), what suggestions would you offer to help them get over their apprehension (or procrastination, if that is the true cause)?

Regardless of your affinity to doing a particular task or completing a favorite goal its importance to the success of your company must be well recognized. If there is a good correlation between completing the task/goal and the future success of the company then you must find avenues to completing that goal. Delegate the task, hire an expert, seek guidance, ask peers for help, find some inspiration from others who have completed similar tasks. You cannot afford to let your aversion to completing an important task get in the way of your company’s success. That is selfish and self-defeating. Besides, conquering something new by overcoming your aversion to a task that is abhorrent to you, but that which must be done as a part of your duty, is inherently rewarding!

5. Is now the best time to focus only on these goals or should executives also work on building (and attacking) a list of goals for 2010?

Time flows continuously. The yearly end of a business cycle is only for the accounting books and the Wall Street. So, if you have missed your numbers this year it is your duty to redouble your efforts to make-up for them in the coming year. Sometimes it takes a heroic effort to catch up before a deadline, but a lesser and more meaningful effort to make-up for missed targets over a longer period. So, keep the perspective and do not burn yourself out—and your organization—just to be a hero momentarily. Think long-term and save yourself—and your organization from burning out.