Surfers know about staying on their board to ride out the lows and enjoy the highs. Breaking right or left when the opportunity arises. Surfing away from danger if they spot a shark in the water.
How can companies or staff use flexibility to stay sustainable through boom & bust cycles? For companies, buying up distressed assets and companies in an economic downturn isn’t the only game in town. With companies desperately shedding cost by laying off staff, the downturn is a golden opportunity to pick up experienced talent in plentiful supply. Likewise for staff, stay open to new opportunities from those companies wanting the good people.
In the downturn, if they can’t justify hiring operations staff, firms can hire more developers instead, to deliver for the next bull run. Or better still (in a flexibility sense), acquire staff who develop in the downturn and do operations/marketing in the boom. For staff, think about widening your skills from operations into development and marketing too.
In a downturn, business ethics are tested by fear, not greed. Whether boom, bust or in between, staff can work hard to join up their personal morals with the business ethics of the business, to keep the customer love alive and thriving.
Finally for staff, if you’re not involved in development innovation (team leaders and middle managers), try to catch the eye of senior management, by helping them develop real options for the company’s future. For the company, having both innovations and real options is the equivalent of riding the surfboard through the ups and downs both.