Well it is that time of year again, when we make (and hopefully keep) our resolutions for the upcoming year. This is a great year to take your resolutions seriously. Not only is 2011 the beginning of a new year, it is the dawn of a new decade — and about time as we need a fresh start after the troublesome past couple of years. For the leaders in this region, here are 11 resolutions to consider:
1. It's the year for recovery
Switch into growth mode and dust off the expansion plans, set your targets for market share and operating margins. But as you switch to growth mode, don't lose the recessionary frugality. If you can maintain this in the midst of expansion you will be well poised for this new decade.
2. Resist temptation
Do not fall for the lure to return to the way things used to be. As great as the temptation is to look back to the golden days, instead plot your course into the future.
3. The Customer is right (at least needs your attention)
I am not going to argue that the customer is always right. But it is a fact that customers need more attention in the boardrooms. With each passing year, the customer has more options and demands more from you — this year exceed their expectations.
4. Improve quality
Simply stated every year requires you to get better and better. You will not win your market share targets driving an Oldsmobile (a car that is now extinct). Improve or die a slow death.
5. Employees are the real asset
Perhaps the most overlooked category in the boardrooms of the region from the past decade is employees. This year commit to put action into your concerns. Become a people leader and make talent your top priority.
6. Be careful about raises
With growth will come the temptation to fall into the compensation and benefit game of the last decade that resulted in pay inflation. If you thought the real estate bubble was damaging, wait until you see what comes from pay inflation.
7. Practice makes perfect
If you want your team (employees) to get better and stay longer, you have to create an environment where they can improve on this skill and behaviour. I like to refer to training and development as practice. Contrary to street opinion, you cannot over invest in employee development.
8. Be social (media)
Open a Twitter account and start tweeting. Get active on Facebook and/or LinkedIn. Every business leader needs to get active in today's social (media) scene. Through social media, you can connect with your colleagues, customers and the open market and best of all you can learn from them.
9. Be multi-lingual in one language
The GCC has the most diverse workforce in the world. As a result, all of your leaders need to understand what it means to lead where the West meets the Emerging Markets and how to communicate, drive performance and customer focus across an uber diverse market.
10. Use imagination this decade
Creativity was the 90s, Innovation the last decade. This decade will be all about imagination. The challenges we will face are unlike any in the history of modern business so we need to be become inventive in how we handle the challenges.
11. Use the right vehicle for the right environment
Final point — the car that is designed for where you are driving serves your interest the best. For example, a Porsche does not offer desert performance. As leaders in 2011, make sure you are using the leadership style necessary for the market and for the diversity of your team.
The writer is Vice-President of Leadership Solutions at Kenexa.