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Transparency in the face of Difficulties

30 Dec

Transparency in Business2008 is now but a memory.  That fall was the start of the financial downturn and the capital plans at our customers collapsed in a matter of weeks.  OST was doing a lot of business in the financial services space and no one needs to be reminded of what happened to that industry.

OST had a bad month in November of 2008.

Dan, Meredith and I were thinking about how to communicate to the OST employees.  Many of our team had worked for companies had experienced downturns in the past.  And each of the three of us had personally experienced the emotions that occur when corporations downsize.

We have a culture of loyalty at OST and the three of us believed that each employee was valuable and important.  We also believed that every one of them had to be at the top of their game and individually successful in order for us to get through the downturn.  Finally, we knew that if we kept the team intact and we persevered, we would be extraordinarily positioned for growth when the recovery began.

But how to avoid the angst that naturally occurs when there is uncertainty and fear of the future.

We decided to do two things: Share good news and be completely transparent.

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