How To Prepare Your Career For A Recession
We recently asked our successful executives what New Year’s resolutions they think all leaders should make in 2023.
Here are their responses…
Michael Willis, Sports Business Operations Executive
By definition, a resolution is a decision to do something or not. For me, that means a plan.
I like planning because it gives way to a structure or a framework. There are six elements to a successful plan:
1. Gather information – Will this be short or long term?
2. Set objectives for the plan – What’s the end game?
3. Devise strategies to meet the goals – Build a timeline.
4. Implement the plan – Kickoff time – Let’s play!
5. Monitor plan performance – Let’s kick the tires on a scheduled basis.
6. Evaluate the effectiveness/success of the plan.
This is an excellent time for executives to be resolute in three things: A company’s…
1. Mission – The overall direction the company’s heading
2. Goals – The desired accomplishments
a. Existing competitors
b. Potential competitors
c. New market entrants
With an executive plan in place, my 2023 New Year’s resolution is set!
Michael Willis has 18+ years of experience working with accounting & sports organizations and has managed P&Ls of $10M – $125M+ with budgets of $3M-$50M+. He worked for the NFL for 22 1/2 years, mainly with the game officials working on the financial/accounting side of the business.
John Schembari, Senior Education Executive
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As Michael Willis states, a resolution is a decision to do something or not and, in most cases, this means developing a plan for success/impact. However, in organizational settings, most plans require the support and engagement of many employees/stakeholders.
So, for me, one New Year’s resolution that all executives should make is to be proactive in vesting others in the implementation of organizational goals. Even if you are a business-of-one, how do you get clients to invest in/value what you are creating/offering?
I heard it said recently that people change for four reasons. We can extend this line of thinking to staff/client engagement. People change—or vest—when they hurt enough (must); when they see enough (inspired); when they learn enough (want); and when they receive enough (able). This year, as I consider how to be more impactful in the delivery of my coaching services, I know that I will be reflecting upon people’s musts, wants, abilities, and dreams.
John Schembari is a current K-12 teacher/school leader academic improvement coach and former school building and district administrator. He loves to draw, travel, swing dance, and read nonfiction.
Percy Leon, Digital Media Content Executive
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As executives, 2023 should be a year of new beginnings and new resolutions. It’s time to make some big changes that will benefit our careers and help us become better leaders in the new year.
One resolution executives should make is to stay organized. Whether it’s setting reminders for meetings or creating a system for filing reports, staying on top of everything you have going on will help keep your career running smoothly.
Another great New Year’s resolution every executive should consider is to create goals and stick to them. Goals can be anything from increasing sales numbers in the new quarter to creating a new team within their department. Having defined goals that you are committed to achieving gives you something tangible to reach for and makes it easier to stay motivated.
Executives should also make a resolution to take care of themselves. This means taking time out of the day to relax, get some exercise, or even just spend time with friends and family. Taking care of yourself helps you be more productive at work and it can help reduce stress levels that may have been building up over the past year.
Finally, executives should make it a priority to continue learning new things in 2023. Learning new skills related to your job can help you be more efficient at what you do and can even open new doors for career advancement. Take classes, attend seminars or webinars, read books—anything that will enrich your knowledge base will benefit you in the new year.
Last year was a tough one for me, but I’m proud of the accomplishments I’ve made in spite of it all. To measure and celebrate my successes, I laid out specific goals for 2022 across different categories—business, personal health, friends & family, etc.—reflecting on how much progress has been achieved over the course of last year. And as if that wasn’t enough to be excited about, I’ve now set new ambitions with strategies tailored towards each quarter mark throughout 2023!
Make it a goal to stay organized, create and reach new goals, take care of yourself, and continue learning new things. These resolutions can help you have a successful new year ahead!
Percy Leon is a digital media content producer specializing in educational technology and entertainment. He is interested in web3, metaverse, and the use of virtual reality for storytelling.
Sarita Kincaid, Tech Media & Influencer Relations Executive
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Over the past few years, we’ve faced a variety of unprecedented workplace challenges. One of those is the recent trend of “quiet quitting” which is defined by Investopedia as “doing the minimum requirements of one’s job and putting in no more time, effort, or enthusiasm than absolutely necessary.” (Jennifer Aniston’s character in Office Space comes to mind.)
A recent Gallup poll found that quiet quitters make up “at least 50% of the U.S. workforce — probably more.” Given the obvious repercussions this trend can have on both workplace productivity and employee satisfaction, executive leaders should prioritize employee communication as their number one resolution for 2023. Two easy ways to get started:
- Communicate directly with each of your employees at least a few times a week. Don’t waste 1:1 time going through task lists. Instead, have strategic discussions about the business and how their role is contributing to the bottom line.
- Learn what motivates your employees. Increased compensation (salary, bonus, stock), recognition for achievements, and investment in their skill sets/career trajectory are top incentives.
Really listening to your staff and addressing their needs will lead to a better work experience for employers and employees alike and should be at the top of every executive’s 2023 resolution list!
Sarita Kincaid is a tech media executive with a demonstrated ability to build and grow award-winning programs. She brings a data-driven approach to influencer relations with a focus on developing strong brand advocates and aligning them with sales programs.
Maria Grandone, Director In Higher Education
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In recent years, we have learned how to adjust to change and uncertainty in the work environment. Many organizations have implemented new hiring strategies for diversity and inclusion, created opportunities for hybrid workplaces, and acknowledge the need for core success skills in this new and changing environment.
This year, you can unleash your potential by leading with sensitivity, adapting quickly to change, and being open to supporting others. There are a few important considerations:
- Change is constant and this is the time to support your team members’ development. Think ahead about learning opportunities by discussing with your direct reports their goals, areas they should focus on, and how they can get the most out of each development opportunity.
- Cultivate a growth mindset and resilience. This is a great opportunity to foster discussions with each team member on their learning, how they’ll apply it, and what you can do to continue supporting them.
- Reflect on your direction, alignment, and commitment. Listen to yourself and your team. Set aside time to review, refresh, or recreate. This will provide the opportunity to stay aligned and collaborate effectively.
This year, you have a unique opportunity to inspire and support your team by modeling the behaviors you want to see. It’s a great time to recalibrate, adjust, and embrace change with an agile and collaborative mindset.
Maria Grandone is dedicated to student access and success, particularly of underrepresented students in higher education. She loves to wake up early to meditate, go for an early morning run, and meet people from all walks of life.
Dr. Hannah Hartwell, Learning & Development Executive
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We made it! Onward to 2023! There’s excitement in the air when the new year begins. Part of that excitement comes from a fresh beginning and needed changes. Some feel inspired to make those changes into New Year’s resolutions.
As leaders, we, too, need to keep ourselves developing professionally. It’s helpful to have goals that vary from previous years. Based on my interactions with executives and various leadership roles for professional associations, I recommend the following three resolutions:
1. Industry trends: Learn and share from colleagues who are doing similar types of work. Get acquainted with thought leaders within your field and have conversations. Consider applying what you learn to your existing workload.
2. Internal networking: Get to know your colleagues within different teams, departments, subsidiaries, and even new hires. There’s so much value in expanding your own knowledge with the intricacies of what your company does and sharing that with your team.
3. Rotational mentoring: Mentoring relationships should be mutually beneficial. Traditionally, mentoring is considered only beneficial for the mentee. Everyone can benefit from a different perspective. Consider partnering with a shorter-term mentor every six months to maximize your impact on the company.
Dr. Hannah Hartwell is a learning and development executive and change management practitioner with 15+ years of business transformation experience in the healthcare, pharmaceutical, higher education, and professional services industries.
Lisa Perry, Global Marketing Executive
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As we kick off 2023, making New Year’s resolutions is a great way to lean into the new year. Here are three ideas executives should consider for 2023:
- Prioritization, Prioritization, Prioritization: When you learn how to prioritize your most important work, it’s easier to increase your productivity and performance. Allocate your resources, time, and effort where they’re needed the most.
- Embrace Agility & Flexibility: The key to organizational agility is leadership speed. Successful leadership allows for the freedom to be flexible in an agile workplace which leads to increased employee engagement and outcomes.
- Daydreaming Creative Thinking: Daydreaming is a source of creative inspiration and a way to make space for more creativity, innovation, and success. Find the time to get lost in your thoughts.
No matter what New Year’s resolutions you make, making one is important as it is a step toward positive change.
Lisa Perry helps companies build leadership brands, driving loyal customers & delivering profitability. She does this through a process that builds brands consumers love. Her goal is to help companies develop, monetize, and grow their brands.
What New Year’s resolutions do you think executives should make in 2023? Join the conversation inside Work It Daily’s Executive Program.