The Financial Crisis - What does it mean for your BYTs?

With the stories of gloom and doom being regularly reported in every media outlet over the past couple of months, it is fair to ask "What do our Bright Young Things think about all this in relation to themselves and our organisation?" Well, the first thing you do is assure them of your viability! Feel free to tell them what it means for the organisation, what plans will haveb to be modified, delayed or scrapped. no amount of "spin" will cushion the diasappointment that comes from unpleasant surprises.

There is little doubt that the financial crisis has resulted in a tightening of capital availability and the subsequent slowdown of any business expansion. If questions have not been directly asked of you as the boss then it is in your best interests and those of your organisation and employees to get on the front foot and address them directly.

If you find yourself in a situation where projected or promised salary reviews will be smaller than originally thought tell them now.

Suggest to them that an opportunity exists, especially for those who will be unable to access superannuation for 30 or 40 years that the current slump in share prices presents a chance to purchase extra units at a suppressed price. Offer to work through a salary sacrifice package for them.

With all the negative publicity surrounding this "crisis" how much will your attitude toward "opportunity" stand out? LOTS!!!