Encouraging news about economic improvement is evident, yet there persists news of continued widespread economic hardship. Top training professionals continue their refrain in recommending training and development strategies that have proven successful during every economic struggle of the last 100 years. Business leaders who implement these strategies have distinguished their companies as truly exceptional in terms of productivity and profitability.

In an interview with Forbes Magazine recently, highly respected business historian Jim Collins noted successful business strategies of 15 companies that survived the 1929-1932 depression. Indeed, these 15 companies remain successful to this day.

These strategies include:

• Maintaining and communicating core values of quality and integrity, living those values without compromise or reservation. No cutting corners!

• Knowing that high caliber people get you through the rough times. Part of keeping great people is continuing to invest in them even when times are difficult.

• Unrelenting focus on day-to-day business needs while preparing for the inevitable business recovery. Adversity can make you stronger, leaner and better able to compete in the marketplace. Success most often accompanies perseverance.

Robert Prechter, a well-known market researcher, adds emphasis to the conclusions of Jim Collins by providing this inspiring example of General Electric:

During recessions/depressions many businesses make a fatal mistake by laying off employees. The far better alternative may be to cut compensation across the board and keep all your best employees. During the 1930’s GE did just that with all employees’ whole-hearted approval. General Electric was able to maintain product and service quality, improved product designs and planned for the inevitable recovery. When business did pick up, GE revenue simply exploded. They wasted no time having to recruit and train new people. Of course GE’s loyalty to their employees made for amazing levels of employee productivity and ingenuity. It was a win-win for everyone, for when business improved, GE shared in the expansion with disproportionate success, and salaries and wages shot up as well. GE operated virtually without any stiff competition for almost three decades.

Let us add just a little commentary that goes to the heart of the current economic situation, its central cause and probable end. At the very foundation, whether examining a single business or a national economy, they thrive on trust and integrity. If we look closely at any country, those with the greatest transparency are those economies that function the greatest vibrancy and stability.

This economic situation has the potential to end much more quickly than past disruptions of this magnitude. What it requires is enlightened business leadership on the part of those who expect to the greatest performance from their employees, their suppliers and their customers. Men and women of high character, integrity and honest must lead. Truly Lead!

For those willing to prepare for and grasp it, this recent economic crisis will be the springboard for a level of prosperity and productivity we’ve never before witnessed. In addition to trusted leadership, this is a time to unleash the creativity within each of your employees. Our country’s creative genius is beyond measure and over the coming years we expect to see it displayed in a multitude of ways.

To effect this change we need to re-examine our beliefs and attitudes toward the business of life.