1. Prioritize projects
Leaders will need to be clear about what projects are helping the organization achieve its competitive advantage and strip back the projects that are not, says UNSW Business School’s Associate Professor Catherine Collins. “It’s about being savvy, not necessarily about what each individual does but rather what is the direction of the collective energy of the employees and the projects that are working on?” she says.
To do this, leaders should identify the projects that need to be completed first and decide which ones can be put on the shelf until more resources become available. Then, consider what products or services will continue to punch above their weight? This in turn helps prioritize the organization’s collective energy.
“When things are tight within an organization, how that organization competes with other organizations needs to be clear from the executive, right down to the team level, and what the frontline team leaders need to do…