The Leading Edge Newsletter

Merry Christmas, the Recession is Over... Or is it?

According to a number of economic indicators and the views of more than a few respected commentators (and even some of the disrespected ones), Australia has weathered the storm of the GFC and come through relatively unscathed. New Zealand too appears to be slowly on the mend. Is this really the end of the recession or just a break in the clouds? In either case what can you do to make the most of the emerging conditions?

Over recent weeks, we’ve seen indicator after indicator pointing to a change in the circumstances of our time. Much of the news has been positive and suggests the worst is over:

Unemployment (Australia)

Source ABS, Labour Force Sept 2009

Cash Interest Rate (Australia)

Source – Reserve Bank of Australia

Inflation Rate (Australia)

• September 2009 – 1.3%
• June 2009 – 1.5%
• March 2009 – 2.5%
• December 2008 – 3.7%
• September 2008 – 5.0%
• June 2008 – 4.5%
• March 2008 – 4.2%

Source – Reserve Bank of Australia

There’s no doubt that our economies in this part of the world have been more resilient than those of other developed nations. Our outlook typically leans more to the optimistic than the pessimistic, and as leading economic indicators, employment, interest rates, and inflation are all currently looking healthy. However, is the recession well and truly over, or is this just a break in the clouds? In either case what should you be doing?

If we’re OUT OF THE WOODS, what should we be doing?

1. Critically assessing every aspect of the organisation and identifying the elements that are central to the future.
2. Developing strategies that will rapidly capitalise on better times, freer spending and greater investment.
3. Engaging the team to work collaboratively towards common goals and objectives.

If we’re NOT YET IN THE CLEAR, what should we be doing?

1. Identifying the essential ingredients for organisational survival and making sure they are secure and can be relied upon under sustained pressure.
2. Spending greater time and energy with the key people in the organisation to seek their input and involve them in future planning.
3. Looking for the wins and successes that will breathe energy into the organisation and provide the momentum swing needed.

Either way, now is the time to review strategies and plans and prepare for improvement and growth – look for ways to engage your team in setting up to capitalise on the new outlook.

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