MB: Managers Bookshelf

“One Foot Out The Door: How to Combat the Psychological Recession

That’s Alienating Employees and Hurting American Business”

by Judith M. Bardwick, Ph.D.;

Amacom, New York, New York;

2007; 204 pages; $24.95.

As we tiptoe along the razor’s edge of an economic recession, the one factor that can raise our hopes or sink them is the monthly report on the unemployment figures. For the moment the numbers might go either way.

It may be all but forgotten now, but it took us nearly three years to recover from the brief recession of 2001. There are a few other things we haven’t remembered. The book’s author, Dr. Judith Bardwick reminds us that… “American companies have made their way back to profitability, some by leaps and some by inches. With few exceptions, the gains are the result of increased productivity -- fewer people doing more. Since 2001, average productivity has increased five percent annually.”

Dr. Bardwick goes on to note that for the first time in U.S. history the “best and brightest” as a group are the ones suffering most from economic globalization and the impact of roller coaster investments by American corporations. She states: “This is particularly important from a macroeconomic perspective because the standard response to what individuals need to do to stay employed is education, education, and education. After the 1990s bust, many of our best-educated and highly skilled people could not find jobs for as long as five years.”

She goes on to ask: “If education isn’t the answer, what is?”

She then answers, “In the long term education is the answer, but in the short term, a financial cushion, or a working partner, and personal resilience are what’s needed.”

The problems with Dr. Bardwick’s answers to this question are threefold. First, Americans’ traditional financial cushion was based on the equity a family might have built by home ownership. This equity has either been lost or at the very least seriously jeopardized by the breadth and depth of the subprime mortgage crisis. Second, a working partner is fine, but as an increasing number of people have discovered, there are no guarantees about a partner’s capability to remain employed.

Finally, for many people personal resilience is no substitute for a paycheck. What has taken place over the past decade is the substitution of temporary contract labor for a full-time workforce. This has become especially true among knowledgeable workers. Even though there may be some resemblance between term contractors and full-time employees at a company’s facility, the former could be gone in an instant with no advance notice or added income. The latter might at least expect some cushioned impact through commonly available severance pay and workers’ compensation checks for several months.

Although these factors may be debatable, the author is right on target in noting a condition she calls “Psychological Recession.” This is, as she puts it, “an emotional state in which people feel extremely vulnerable and afraid for their futures.” She goes on and also notes, “This is especially relevant in the business world because chronically fearful people are too exhausted to be creative and innovative.”

She continues, “The result is as many as two-thirds of U.S. employees are either actively looking for new jobs or merely going through the motions at their current jobs. While they still show up for work each day, in ways that really count, many have quit.” She puts the blame squarely on management for failing to return employees’ loyalty to the company with the company’s loyalty to the employees.

Most of the book covers the step-by-step process of rebuilding this mutual loyalty from intelligent hiring practices to engaging employees in ways that build shared commitment to a common goal. This requires far more than tired old morale building techniques and satisfaction surveys.

“One Foot Out The Door,” takes a good look at current employee motivation issues and offers a full-course banquet of useful ideas to resolve them. That’s a good deal for the price of a small dinner.

-- Henry Holtzman

Here are the current top 10 bestselling books for business.

The list is compiled based on information received from retail bookstores throughout the U.S.A.

1. “Winners Never Cheat: Everyday Values We Learned As Children (But May Have Forgotten),”

by Jon M. Huntsman (Wharton School Publishing…$19.95)(2)* Why playing by the rules is still the only way to win.

2. “Women and Money: Owning the Power to Control Your Destiny,”

By Suze Orman (Random House…$24.95) (3) Guru of women’s financial empowerment tells how it’s done.

3. “Launching a Leadership Revolution: Mastering the Five Levels of Influence,”

by Chris Brady and Orrin Woodward (Business Plus…$23.99) (1)* Detailed view of how to develop leadership skills.

4. “The Dip: A Little Book That Teaches You When to Quit (and When to Stick)”

by Seth Godin and Hugh Macleod [Illustrator] (Penguin Group – USA…$12.95) (4) Why winners often quit while losers stick.

5. “The Logic of Life: The Rational Economics of An Irrational World,”

by Tim Harford (Random House…$19.95) (10) Why economics always appears logical when nothing else does.

6. “Freakonomics: A rogue Economist Explores the Hidden Side of Everything,”

by Steven D. Levitt (Harper Collins …$25.95) (6) Why you shouldn’t accept the official version of anything.

7. “Good to Great,”

by Jim Collins (HarperCollins…$27.50) (8)*** Climbing the steps from a good organization to a great one.

8. “The Long Tail: Why the Future of Business Is Selling Less of More,”

by Chris Anderson (Hyperion…$24.95) (7) Why products sold by Internet generate nearly unending sales.

9. “The Age of Turbulence: Adventures in a New World,”

by Alan Greenspan (Penguin Group…$35.00) (5) Former Fed Reserve Chairman tells all…more or less.

10. “The Black Swan: The Impact of the Highly Improbable,”

by Nassim Nicholas Taleb (Random House…$26.95) (9) Why events that shouldn’t take place always startle us.

____________________

*(2) -- Indicates a book’s previous position on the list.

** -- Indicates a book’s first appearance on the list.

*** -- Book previously on the list is on the list once again.


“One Foot Out The Door: How to Combat the Psychological Recession That’s Alienating Employees and Hurting American Business” by Judith M. Bardwick, Ph.D.; Amacom, New York, New York; 2007; 204 pages; $24.95. As we tiptoe along the razor’s edge of an economic recession, the one factor that can raise our hopes or sink them is the monthly report on the unemployment figures. For the moment the numbers might go either way. It may be all but forgotten now, but it took us nearly three years to recover from the brief recession of 2001. There are a few other things we haven’t remembered. The book’s author, Dr. Judith Bardwick reminds us that… “American companies have made their way back to profitability, some by leaps and some by inches. With few exceptions, the gains are the result of increased productivity -- fewer people doing more. Since 2001, average productivity has increased five percent annually.” Dr. Bardwick goes on to note that for the first time in U.S. history the “best and brightest” as a group are the ones suffering most from economic globalization and the impact of roller coaster investments by American corporations. She states: “This is particularly important from a macroeconomic perspective because the standard response to what individuals need to do to stay employed is education, education, and education. After the 1990s bust, many of our best-educated and highly skilled people could not find jobs for as long as five years.” She goes on to ask: “If education isn’t the answer, what is?” She then answers, “In the long term education is the answer, but in the short term, a financial cushion, or a working partner, and personal resilience are what’s needed.” The problems with Dr. Bardwick’s answers to this question are threefold. First, Americans’ traditional financial cushion was based on the equity a family might have built by home ownership. This equity has either been lost or at the very least seriously jeopardized by the breadth and depth of the subprime mortgage crisis. Second, a working partner is fine, but as an increasing number of people have discovered, there are no guarantees about a partner’s capability to remain employed. Finally, for many people personal resilience is no substitute for a paycheck. What has taken place over the past decade is the substitution of temporary contract labor for a full-time workforce. This has become especially true among knowledgeable workers. Even though there may be some resemblance between term contractors and full-time employees at a company’s facility, the former could be gone in an instant with no advance notice or added income. The latter might at least expect some cushioned impact through commonly available severance pay and workers’ compensation checks for several months. Although these factors may be debatable, the author is right on target in noting a condition she calls “Psychological Recession.” This is, as she puts it, “an emotional state in which people feel extremely vulnerable and afraid for their futures.” She goes on and also notes, “This is especially relevant in the business world because chronically fearful people are too exhausted to be creative and innovative.” She continues, “The result is as many as two-thirds of U.S. employees are either actively looking for new jobs or merely going through the motions at their current jobs. While they still show up for work each day, in ways that really count, many have quit.” She puts the blame squarely on management for failing to return employees’ loyalty to the company with the company’s loyalty to the employees. Most of the book covers the step-by-step process of rebuilding this mutual loyalty from intelligent hiring practices to engaging employees in ways that build shared commitment to a common goal. This requires far more than tired old morale building techniques and satisfaction surveys. “One Foot Out The Door,” takes a good look at current employee motivation issues and offers a full-course banquet of useful ideas to resolve them. That’s a good deal for the price of a small dinner. -- Henry Holtzman Here are the current top 10 bestselling books for business. The list is compiled based on information received from retail bookstores throughout the U.S.A. 1. “Winners Never Cheat: Everyday Values We Learned As Children (But May Have Forgotten),” by Jon M. Huntsman (Wharton School Publishing…$19.95)(2)* Why playing by the rules is still the only way to win. 2. “Women and Money: Owning the Power to Control Your Destiny,” By Suze Orman (Random House…$24.95) (3) Guru of women’s financial empowerment tells how it’s done. 3. “Launching a Leadership Revolution: Mastering the Five Levels of Influence,” by Chris Brady and Orrin Woodward (Business Plus…$23.99) (1)* Detailed view of how to develop leadership skills. 4. “The Dip: A Little Book That Teaches You When to Quit (and When to Stick)” by Seth Godin and Hugh Macleod [Illustrator] (Penguin Group – USA…$12.95) (4) Why winners often quit while losers stick. 5. “The Logic of Life: The Rational Economics of An Irrational World,” by Tim Harford (Random House…$19.95) (10) Why economics always appears logical when nothing else does. 6. “Freakonomics: A rogue Economist Explores the Hidden Side of Everything,” by Steven D. Levitt (Harper Collins …$25.95) (6) Why you shouldn’t accept the official version of anything. 7. “Good to Great,” by Jim Collins (HarperCollins…$27.50) (8)* Climbing the steps from a good organization to a great one. 8. “The Long Tail: Why the Future of Business Is Selling Less of More,” by Chris Anderson (Hyperion…$24.95) (7) Why products sold by Internet generate nearly unending sales. 9. “The Age of Turbulence: Adventures in a New World,” by Alan Greenspan (Penguin Group…$35.00) (5) Former Fed Reserve Chairman tells all…more or less. 10.** “The Black Swan: The Impact of the Highly Improbable,” by Nassim Nicholas Taleb (Random House…$26.95) (9) Why events that shouldn’t take place always startle us. ____________________ (2) -- Indicates a book’s previous position on the list. * -- Indicates a book’s first appearance on the list. *** -- Book previously on the list is on the list once again.
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