The economy goes up and down. Right now, it’s not doing so well. In fact, most would say it has tanked. Managing your costs is important to your growth and survival, and when the economy is performing poorly, it is even more of a challenge. Experts say that 58% of companies have a shortfall in leaders and many companies are actually cutting their development budget as part of their cost cutting measures.
Before you make that cut, you might want to think long and hard about whether that’s the right choice for your business. When you take development away from the executives, it can be detrimental. Leading is actually special skill. A key leader can find a business coach a very helpful tool to navigate through the storm and continue to grow and prosper.