Viewpoint — March 2010
What Happened to Easy Comps?
Written by Bob Gershberg, Managing Partner Wray Executive Search
Surely we expected to see easy comps for 4th quarter 2009 and 1st quarter 2010. After all, the same quarters in the previous respective years were atrocious. Surely February ’10 had to kill February ’09. Sorry to say - Not so much! Many of our leaders blamed February lackluster sales on the brutal weather in the mid-west and mid-Atlantic. Really? Let’s take a look at our brethren in the retail sector as they clearly suffered the same weather challenges. Average increase in retail sales last month was 3.7%. Nordstroms was up 10% as was TJ Maxx. Historically the restaurant sector leads the economy in recovery according to analysts. It is far easier to say, “The heck with it, let’s go out to dinner.” than it is to say “let’s go out and buy a $40,000 car.” What in the world are we missing?
Are we still trying to cut our way to success? The challenges we face in running and growing our companies in this current environment are largely different in scope and nature than the many we have had to overcome in the past. Substantive measures, brilliant innovation and laser focused execution will be the path to surviving and thriving in the recovery.
When evaluating current leadership it is incumbent upon the Directors to ask these difficult questions:
- Do they know how to gain competitive advantage?
- Can they leverage your assets, time, resources and energy to achieve the goals?
- Can they be true to your brand?
- Can they lead with absolute integrity and uphold the company’s core values?
- Do they encourage unique ideas and creative thought?
- Can they drive execution?
- Can they build bonds of trust?
- Are they the absolute best team suited to compete over the next 3 years?
If you are hesitant in shouting a loud YES in response to each of these questions, you are well advised to contemplate the consequences. In the business world as in the sports world, THE BEST TEAMS ALWAYS FIND A WAY TO WIN!
We all recognize the importance of hiring the right person for the right job and are painfully aware of the astronomical costs to our companies when we do not. Likewise we must recognize the importance of retaining on that very basis as well. Lowering our standards is not an option. Without the right people in the right jobs, a company cannot grow and thrive.
The mission is simple – build teams that are uncommonly passionate about the industry and brand. Make certain they are the right people for the right time.
Bob Gershberg |Managing Partner|
bob.gershberg@dickwray.com
(888) 875-9993 ext 102
Finding tomorrow’s leaders today!
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