The unexpected upside to the downturn

According to Martin Clarke, Director, General Management Programmes, at the Cranfield School of Management in the UK, no industry, including the insurance industry, is immune from the dramatic turn of events affecting the world economy. But while fighting for budgets, dealing with constant demands to do more with less and maintaining employee motivation are perennial issues for senior executives, these can take on daunting proportions during a downturn. Mr Clarke argues that it is executive talent that enables organisations to respond effectively to pressures and that enables them to pull through to the other side of recession. But too often when the pressure is on, leaders and managers most natural reaction is to rely on the safe, tried and tested methods. There is an understandable tendency to focus inwards and look to the well-rehearsed responses: shelved projects and the slashing of all non-essential cost. In such an environment, all too easily talent can become de-motivated and jaded - exactly what organisations don’t want when even higher levels of performance are required in order to deal with challenging circumstances