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Staying Competitive in a Down Economy

Introduction

The current economic climate has many American employees worried about potential job loss, and these worries are not without cause. The latest economic outlook has no evidence to support that the current gains in the United States economy are enough to control the loss of jobs or the amount of college graduates entering the job market (Bernanke, 2011). This means that there are potentially many more people who may soon be out of a job or unable to find one. This causes many problems for the men and women who are now in or who will be entering the workforce. The disruption that unemployment has on a household has differing and extreme effects. However, it

is often America’s children who suffer the most from unemployment.

Take Diane and Eric Kehler from Worthington, Ohio, for example. Mr. Kehler recently lost his $90,000 a year job, and Mrs. Kehler—usually a home maker—was required to work at a local fast food restaurant to offset the cost of groceries (Winerip, 2011). These problems made life difficult for their two grade school children who didn’t know what the possible outcomes of the job loss would be. “I was worried and scared and very worried,” said Leah, age 10. She confided in her fourth grade teacher that she didn’t want to move and lose all of her friends (Winerip, 2011).

Mr. and Mrs. Kehler tried to discuss and keep their troubles in secret, but as Wilson Hill Elementary School’s guidance counselor, Jen Hegerty, says, “Children have eagle ears" (Winerip, 2011). The distress caused their son Mathias, age 12, to be shier than usual among his friends. “Our house was sort of in a state of despair. We weren’t as happy as usual,” Mathias said. “I stopped having good ideas to talk about with my friends” (Winerip, 2011).

Mathias and Leah knew things were getting worse when they qualified for discount lunches at their school; though, they weren’t the only ones who began to qualify for discounted lunches. The middle to upper-class suburban town where the Kehlers reside currently has 22% of its students receiving subsidized lunches. This figure was only 16% in 2005, a 6% increase (Winerip, 2011).

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The effects on children are often over looked because they don’t know how to effectively verbalize the emotions they are feeling. “Separation anxiety, nightmares, bed wetting, obsessive behavior, won’t stay in own bed, acting out at school, and acting out at home,” Ms. Hegerty says, are only a few signs that children are having difficulty dealing with circumstances and the atmosphere of the home (Winerip, 2011).

The effects of losing a job become more real when learning about a family who is currently struggling with this issue. There are certain things that children deserve to have. According to Theisen, these include providing an environment that is safe and providing children with the basic needs of life (Theisen). The ability to stay employed is essential to being able to provide these needs.

Like the Kehlers, most people want to work; they just struggle to find employment. This article is dedicated to protect those currently working from losing their jobs and to help those unemployed to be better aware of how to obtain desired employment. This article presents a few attributes employees need to have to stay employable, trends to avoid that make employees less hirable, and things businesses are looking for in a future and long term employee. By following the tips and guidelines discussed in this article, the working class can hedge against losing their jobs, sparing their family from the headaches, uncertainty, and stress that result from job loss.

Current Trends of Employees

In today’s fast pace environment, individuals put much thought into finding jobs to apply for and, eventually, which offer to accept. According to Erin Burt a writer of Kiplinger, a business and advice web site, employees tend to base their decisions on eight key factors: benefits, location, commute, opportunities for advancement, work environment, job security, the level of job responsibility, and what their goals are in life (Burt, 2007). In recent years, due to the recession, job security has ranked as the top priority to many people (SharedHR, 2011). Individuals feel blessed and privileged to hold a job. It has even been noted that those that are employed and even some that aren’t have been working to make themselves more

desirable, valuable,

and marketable.

Individuals make

themselves valuable through

many different

actions. In businesses today “The first people to be let go are people who have submitted questionable work product or work that was less than their best,” as stated by David Lat the founder and managing editor for Above the Law (Lat, 2009). To hedge against being let go, employees have started to educate themselves, receiving the required level of education needed.

Employees have shown a desire to learn and to achieve their best. Through this

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desire they become aware of themselves. They seek out guidance on how to use their time wisely, be productive, flexible, and available (Lat, 2009). They are driven to achieve a higher standard of work. They try to “get out of the box,” to foster creativity.

Some believe creativity is a talent, something that is inherited, and either a person has it or they don’t. This is not true, creativity “can be taught or developed in the right environment” (Georgescu, 2007). Some ways to develop creativity are through practice, believing in one’s self, learning from others, and exploring uncommon ways to solving problems. These things do not just happen overnight. The hardest steps to becoming creative might be setting time aside to practice, and then once one does practice allowing him or herself mistakes, not being too critical of himself or herself.

Negative Trends of Employees

Things that deter individuals from excelling in the work place are fostered in the sole desire to earn money (Kawasaki, 2004). People get caught up in the dollar signs; they start comparing their compensation with their personal perception of what grade of work that level of pay deserves. This causes employees to become lazy, submitting work that is good but not great, just enough to slide by. Another thing that holds individuals back in the work place is not being motivated. The lack of motivation can be attributed to a vast amount of things. According to Remez Sasson, some possible causes of the lack of motivation are not enjoying a job, a loss of interest, fear of failure, and laziness (Sasson). Remez Sasson is the creator and owner of the website SuccessConsciousness.com

Positive Business Trends

In this ever changing economy, businesses have felt the need to stay competitive because of globalization and competition. Even though these factors influence businesses highly, Andrea Coombes, a MarketWatch writer, claims that it doesn’t help constantly looking over a shoulder to what or who is attempting to take someone’s place in business (Coombes, 2007). This does not mean to ignore everything; it simply means to focus on business, its goals, and being the best at what they do.

How does a company focus on their business? Well, it depends on the business. Sustaining relationships is important in all business in order to stay successful. “Retain current clients while honing an edge that makes them appealing to new customer” is a key, according to Stephanie Mannino, a writer for The Cooperator (Mannino, 2009). The Better Business Bureau mentions that to help a business prosper and to maintain a positive reputation, employees need to cultivate business relationships with customers, employees, lenders, government agencies, and vendors; to do this seek professional advice, do what one

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says he or she will, and plan ahead financially (Better Business Bureau, 2011). “An organization must *also+ continually invest in the development of employees' skills in order to stay competitive and meet ongoing business needs” (Benzimra, 2010). They can do this through training clinics, workshops, and mentors.

Technology can also give a business the edge it needs to compete with others. Society today is a technology generation. In 2009, 76% of households in the U.S. had internet access in their home, according to the U.S. Census Bureau (U.S. Census Bureau, 2011). It can be assumed that the percentage has risen since 2009; smart phones are also popular and can access the internet. In order to take advantage of the technological generation, businesses can implement these key principles: be responsive, implement electronics (web, email, e-bills, etc), customer service, and add value (Mannino, 2009). Putting one’s advertisement or business on the web does not necessarily mean sales/services are going to increase. However, it does allow the business to access its costumers and make the business known.

Achieving business goals and being the best at what one does, is only possible through capable employees; although, there are many industries, job categories, and specializations, most businesses judge an individual to be capable in the same fashion. An attribute that businesses look for in employees is efficiency, through speed, responding to the desires and needs of the customers, and flexibility, according to Thomas P. Gale, publisher and executive editor of Modern Distribution Management (Gale). They want people that are self confident and can think for themselves, not

having to be micro managed. Organizational skills are also a benefit. Chris Seabury’s article on Investopedia states that businesses like individuals that can keep detailed records, analyze competition, understand the risks and rewards of the business, be creative, stay focused, prepare to make sacrifices, provide great services, and to be consistent (Seabury).

Weak Businesses Trends

Under skilled and arrogant individuals tend to discourage businesses to hire them. Arrogance implies a sense of “I know best” attitude. Individuals like this don’t promote teamwork and open communication. Teamwork is a necessary skill that every employee should be capable of; individuals have to constantly rely on others’ effort to succeed, suggests Loveleena Rajeev (Rajeev, 2010). Businesses try to avoid spending cash unwisely. Irresponsibly spending cash depletes profits and drives investors away.

Irresponsibly running a business is a weak business trend. It is seen in many forms. Some are even masked to appear beneficial. Guy Kawasaki mentions that taking on profitable sales that have a long collection period could be irresponsible, based on the businesses’/companies’ stage and financial position (Kawasaki, 2004, p. 80). Spreading one’s self too thin is a common error. Good opportunities will present themselves, and

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the first reaction is to do them all; this is not wise, states Neil Patel (Patel, 2009). Over extending one’s self or one’s business can become a fatal flaw. Tasks and jobs won’t be done to expectations, things will be overlooked, and the business could lose reliable costumers.

Conclusion

Employees need to be creative and have great suggestions at the ready to help improve efficiency, customer experience, or marketing. It is unlikely that one who contributes in this capacity will be let go, regardless of the occupation. Employers are often stuck in the box too long to properly be able to think outside of it. They can use all the help that a proactive employee can offer.

It is also important to note that employers don’t want to fire anyone because it could give the business a negative appearance or cause an uncomfortable work environment. However, when things get tough, it is necessary for businesses to trim away the fat of a company. During this process the companies will keep the individuals that are the most valuable or irreplaceable, the ones that can multi-task, and work diligently to excel the business. Businesses that intend to stay competitive will never be able to get rid of any vital part of the company. Employees must think of how they can develop their skills to become a crucial part of the company.

Even after an employee has done all he or she can to be creative and become an invaluable part of the company, he or she could still be let go. This happens to the best managers and employees in each industry. When this does happen it is important that employees position their

selves to be missed by the company. It is the employee’s responsibility to make the company’s decision of termination a difficult one.

The best way to cope with the economic struggles and termination is to stay positive and confident that things will turn around. On example of this is using the challenging economic time to develop and perfect the basic skills and quality that employers are looking for. Employees could enroll in a training course or attend a college to specialize their skills. Truthfully there are many benefits that come from people being forced to reevaluate their efforts. Greatness is usually the outcome of our internal or external struggles.

For the Kehlers of Ohio, the road may be a long and difficult one. However, if they change their perspective and view their struggles as an opportunity for growth they will come out as better people.

Our lives are not determined by what happens to us but by how we react to what happens, not by what life brings to us, but by the attitude we bring to life. A positive attitude causes a chain reaction of positive thoughts, events, and outcomes. It is a catalyst, a spark that creates extraordinary results (Anon, 2011).

As employers and employees determine to respond to troubles with resolve and confidence, these short term troubles can lead to long term gains.

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References

Anon. (2011). Motivational quotes. Retrieved February 9, 2011, from quoteland.com: http://www.quoteland.com/topic/Motivational-Quotes/232/

Benzimra, Y. M. (2010, August 26). Investing in employee development in order to stay competitive and meet organizational needs. Retrieved January 26, 2011, from Consulting Psychologist: http://www.scribd.com/doc/36512139/

Bernanke, B. (2011, February 9). Speech by Chairman Bernanke on the economic outlook and macroeconomic policy . ForexHound.com. Retrieved February 9, 2011, from http://www.forexhou. Retrieved February 9, 2011, from FoxHound.com: http://www.forexhound.com/article/Central_Banks/

Better Business Bureau. (2011, January). Retrieved January 26, 2011, from Good business practices: http://www.newyork.bbb.org/good-business-practices/

Burt, E. (2007, April 19). How to choose the right job. Retrieved February 5, 2011, from Kiplinger: http://www.kiplinger.com/columns/starting/archive/2007/st0418.htm

Coombes, A. (2007, February 22). Six strategies to stay competitive in a global labor market. Retrieved January 26, 2011, from MarketWatch: http://www.marketwatch.com/story/six-strategies-to-keep-you-competitive-in-a-global-job-market

Gale, T. P. (n.d.). Be a stronger competitor. Retrieved January 26, 2011, from Microsoft dynamic: http://www.microsoft.com

Georgescu, P. (2007, October 11). Stay competitive through innovation. Retrieved January 26, 2011, from CNNMoney.com: http://money.cnn.com/2007/10/10/news/companies/100588177.fortune/

Kawasaki, G. (2004). The art of the start. New York: Peguin Group.

Lat, D. (2009, June 11). Staying competitve during a economic downturn. Retrieved January 11, 2011, from Above the law: http://abovethelaw.com/2009/06/staying-competitive-during-an-economic-downturn/

Mannino, S. (2009, January). How companies can stay competitive million dollar management. Retrieved January 25, 2011, from The cooperator the co-op & condo monthly: http://www.cooperator.com/articles/1865/1/How-Companies-Can-Stay-Competitive/Page1.html

Patel, N. (2009, January 14). 7 business mistakes that nearly broke me... literally. Retrieved February 12, 2011, from Quicksprout: http://www.quicksprout.com/2009/01/14/7-business-mistakes-that-nearly-made-me-go-broke/

Rajeev, L. (2010, January 28). Importance of teamwork. Retrieved February 5, 2011, from Buzzle.com intelligent life on the web: http://www.buzzle.com/articles/importance-of-teamwork.html

Sasson, R. (n.d.). Lack of motivation and enthusiasm. Retrieved February 5, 2011, from SuccessConsciousness.com : http://www.successconsciousness.com/lack-motivation-enthusiasm.htm

Seabury, C. (n.d.). 9 Tips for growing a successful business. Retrieved January 25, 2011, from Investopedia: http://www.investopedia.com/articles/pf/08/make-money-in-business.asp

SharedHR. (2011). Employee benifits continue to rank high with employees. Retrieved February 5, 2011, from SharedHR: http://sharedhr.com/marketing/PrintArticle.aspx?ArticleID=116

Theisen, C. (n.d.). 8 essential parental responsibilities - parent education. Retrieved February 7, 2011, from Familyresource.com: http://www.familyresource.com/parenting/parent-education/8-essential-parental-responsibilities

U.S. Census Bureau. (2011). The 2011 statistical abstract. Retrieved February 5, 2011, from U.S. census bureau: http://www.census.gov/compendia/statab/cats/information_communications/internet_publishing_and_broadcasting_and_internet_usage.html

Winerip, M. (2011, January 30). Teacher, my Dad lost his job. Do we have to move? Retrieved February 7, 2011, from New York times- breaking news: http://www.nytimes.com/2011/01/31/education/31winerip.html?_r=1

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Diversification in the Workplace Sylvester Peter Brown and Shane Jones

INTRODUCTION Researching the pros and cons of diversification within the U.S. workforce is still a relatively new practice. Both minorities and females have been active in the U.S. workforce for many years now; however, the benefits of the diversification of these individuals into the U.S. workforce have just recently been discovered. Diversification has now become an important commodity for U.S. businesses. The following article lists the benefits that come with diversification and explains its

value added to U.S. companies. After identifying the benefits of diversification, we explain how you can implement a productive diverse culture into your business operations, as both a co-worker and a manager.

DISCRIMINATION The number of claims of race discrimination is substantially rising nationwide. This is in large part due to the increasing restrictions of discrimination in the workforce. In the past there was no fear of crossing the line with discriminative acts. That has all changed, especially during the last 20 years. Many clients and workers can easily be sued for racial discrimination these days. All companies are now forced to have a harassment policy in place. They are also expected to train their workforce so that they can be informed of the actions that conduct racial discrimination. If companies do not follow certain standards to inform their employees of the forbidden discriminative actions that call for legal actions, towards discrimination, then they will leave themselves vulnerably open to be sued. If they do conduct the necessary information about being non-discriminative then the actions of the employees will make themselves accountable for their discriminative actions.

ENCOURAGING DIVERSIFICATION Fortunately, creating a diversity friendly work environment is not rocket science. For the most part, it involves taking the initiative and a healthy dose of common sense. A simple way to make colleagues from diverse backgrounds feel comfortable while at work is to be sure that you make the effort to pronounce their name correctly. Those who are minorities in a company often feel disrespected by those who do not care to take the time to know their name. This shows a lack of interest in the lives of your minority co-workers. If you have trouble with their name, show respect

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by asking them to say it for you until you can repeat it successfully. The minority employees will appreciate your efforts and feel more comfortable around you. We need to remember that minorities in the workforce deal with criticism in their home lives quite often. They should not have to worry about such actions while trying to provide for themselves and for their families. Some employees find it easier to just make up a nickname for minorities for hard names to pronounce. Studies have shown that even though they may answer to the name, they do not feel respected.

Race-related jokes do not belong in the workforce. Some employees seem to think that these jokes will break the tension of a diversified workforce. However, it is not appreciated. These jokes always seem to involve stereotypes, which are also not included in a successfully diversified workforce. Minorities need to remember that playful banter between common races is also not appropriate at work. This is can actually be disrespectful to those co-workers who treat you as if you are a normal member of the work team. There are many people who do not appreciate racial humor, no matter the source of it.

It is necessary to check all your race based stereotypes at the door. A good way to look at this issue is to see your fellow employees as the productive resources that you are seen as. Sharing racial generalizations with those targeted by them will only cause emotional damage. Rather than telling your co-worker that he defied your expectations, consider reflecting on how you developed the stereotype in question and how to let go of it. Here is an example of how a hasty stereotype can emotionally cause harm to a fellow employee, notice the lack of hurtful

intentions. You have a Latino co-worker in your office and you are looking at video footage of the world cup on your computer. You ask your Latino co-worker a question regarding the game. He then says to you, “I have no clue.” You immediately say, “What? I thought all Latino’s were good at soccer.” You will immediately bring this employee down because he grew up with issues playing any type of sports and may have been made fun of for not succeeding at soccer like the rest of his classmates. Without any malice, you have been discriminated toward your co-worker.

Another way to make your minority co-workers feel comfortable in your workforce is to study up on their cultural holidays and traditions. Your co-worker will immediately feel more comfortable if you can show interest in his different opinions and traditions, especially when they feel different because of their different beliefs and customs. Whether you are a manager or a co-worker, it is important to accept any time off that the minority employee takes in order to tend to their particular customs. You can practice empathy by contemplating the traditions that matter most to you. Then ask yourself, “Would I be willing to work on those days.”

It is important to always include all workers in your decision making process. Listening to the different opinions from a diverse group of people can change the way business is done for the better. This is actually thought to be the key success factor in diversification. A person that grew up with different backgrounds has the ability to offer a perspective on an issue that no one else can give because of their unique past experiences. This added value in a company can increase the amount of

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innovation and creativity that occurs within your work setting.

Holding a diversity workshop is beneficial

for any business. Managers need to enroll their employees in a diversity training session that will benefit and protect the company, the employees, and the company minorities. Many companies have noticed the displeasure that this may cause at first. However, studies show that a large number of employees come away from these workshops understanding the company benefits that are created by diversification.

“Cultural intelligence, defined as an individual’s capability to function and manage effectively in culturally diverse settings, is consistent with Schmidt and Hunter’s (2000, p. 3) definition of general intelligence as, “the ability to grasp and reason correctly with abstractions (concepts) and solve problems.” Although early research tended to view intelligence narrowly as the ability to grasp concepts and solve problems in academic settings, there is now increasing consensus that “intelligence may be displayed in places other than the classroom” (Sternberg & Detterman, 1986).”

BENEFITS OF DIVERSIFICATION The process of racial diversification within the workplace has many benefits. It does not matter if your company has 20 employees or 2000 employees. The added benefits of different racial backgrounds within your company will add the same value to your company.

Some immediate advantages that racial diversification can add are enhanced team spirit, boosts in creativity, and promotion of a sense of investment in the company. This day in age, an organizations success and competiveness depends on its abilities to embrace diversity and realize the benefits.

As time passes, more and more foreign workers come to the U.S. to work so that they can benefit companies with their unique educational setup in their country. Adapting your business environment to accommodate these workers is essential. Here is a list of benefits that come from successfully diversified companies: increased adaptation, broader service range, variety of viewpoints, and more effective execution.

RCOMMENDD WAYS TO STABLISH DIVRSITY Make Assessment of Diversity

Top companies make assessing and evaluating their diversity process an integral part of their management system. A customizable employee satisfaction survey can accomplish this assessment for your company efficiently and conveniently. It can help your management team determine which challenges and obstacles to diversity are present in your workplace and which

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policies need to be added or eliminated. Reassessment can then determine the success of you diversity in the workplace plan implementation.

Develop a Diversity Plan

Choosing a survey provider that provides comprehensive reporting is a key decision. That report will be the beginning structure of your diversity in the workplace plan. The plan must be comprehensive, attainable and measurable. An organization must decide what changes need to be made and a timeline for that change to be attained.

Implement the Diversity Plan

The personal commitment of executive and managerial teams is a must. Leaders and managers within organizations must incorporate diversity policies into every aspect of the organization’s function and purpose. Attitudes toward diversity originate at the top and filter downward. Management cooperation and participation is required to create a culture conducive to the success of your organization’s plan.

RECOMMENDED WAYS TO PREVENT DIVERSITY ISSUES

1. Ward off change resistance with inclusion. Involve every employee possible in formulating and executing diversity initiatives in your workplace. 2. Foster an attitude of openness in your organization. Encourage employees to express their ideas and opinions and attribute a sense of equal value to all. 3. Promote diversity in leadership positions. This practice provides visibility and realizes the benefits of diversity in the workplace.

4. Utilize diversity training. This could be a tool to shape your diversity policy. It will make others aware of the dos and don’ts in the workplace. 5. Launch a customizable employee satisfaction survey that provides comprehensive reporting. The results could be used to build and implement successful diversity in the workplace policies.

CONCLUSION As the economy becomes increasingly global, our workforce becomes increasingly diverse. Organizational success and competitiveness will depend on the ability to manage diversity in the workplace effectively. Evaluate your organization’s diversity policies and plan for the future, starting today. When theses things are handled and implemented well it brings not only peace and unity but also a sense of accomplishment as well as rapid developments in a work place because of the difference in opinions that come to the table and this will be a great thing for a company that is especially planning on going international.

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References

Ang, Soon (Editor); Van Dyne, Linn (Editor). Handbook of Cultural Intelligence: Theory, Measurement, and Applications. Armonk, NY, USA: M.E. Sharpe, Inc., 2008. p3. http://site.ebrary.com/lib/byuidaho/Doc?id=10292191&ppg=21 Copyright © 2008. M.E. Sharpe, Inc... All rights reserved.

Diversity in the workplace - benefits of diversity in the workplace Retrieved 3/21/2011, 2011, from http://racerelations.about.com/od/theworkplace/a/HowtoCreateaDiversityFriendlyWorkplace.htm

Diversity in the workplace: Benefits, challenges and solutions Retrieved 3/21/2011, 2011, from http://www.multiculturaladvantage.com/recruit/diversity/Diversity-in-the-Workplace-Benefits-Challenges-Solutions.asp