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Issue #9: November 26, 2001
To our readers:
The economy has slowed, numerous companies are laying off people in large numbers, and employees at all levels are concerned about their jobs and their economic futures. Budgets are being cut in both the public and private sectors. At a time when most organizations must accomplish more, and better, with fewer employees, they must also grapple with employee anxiety that can reduce employees' confidence in their positions, and their dedication to the job. That's the bad news. The good news is that this is a great time to build team spirit within your organization.
Whatever level of leadership you occupy in your organization, you can have a positive effect on its ability to navigate these troubled times while at the same time building a renewed team spirit.
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Four Tips for softening the economic slowdown at your organization through your leadership:
1. Tell your employees everything you can about where the organization is going. Be as open with information as you can possibly be.
Most people feel more secure when they know all the facts, even when those facts indicate problem areas in the company. Some leaders think that what employees don't know won't hurt them. The fact is, employees almost always know when trouble is brewing, they just don't know how that trouble will affect them. And that increases their anxiety. The sooner they know exactly what the issues are, how the company will address them, and how the proposed solutions will affect them personally, the sooner they are able to use their own coping skills to handle the issues, both for their benefit and for the company's. So if you believe that the less said the better, rethink that fallacy. With very few exceptions, the more said the better for everyone. And if your organization is in great economic shape, be sure to share that information! Invest the time to accomplish this in face-to-face meetings, which inform your employees in a powerful way that you realize how important they are to your success.
2. Tell your employees what they--and you--can and need to do to help the company weather the slowdown.
Once you have made your company's situation crystal clear--whether it is hugely positive, slightly negative, or very tenuous--tell them exactly what they can do to help, and what you are doing to help. Does everyone need to work longer hours? Talk about it. Are expenses out of line with current income? Tell employees where expenditures are too high and what can reduce them. Let them know the status of the company's revenues, and where they could be boosted. Let them know what you are doing to increase revenues, and what actions they can take -- spread the good word about the organization's products/services? Deliver fliers in their neighborhoods? Make one sales telephone call a day?
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3. Ask for everyone's ideas for ways to improve productivity, employee retention, sales . . . whatever needs improvement.
Call everyone together --- whether company-wide or in your department. Put people from different departments together if at all possible, to increase the cross-pollination of ideas. If you haven't already shared your ideas for how to improve your company's fortunes, do it at these meetings. Then ask everyone to brainstorm ways to improve productivity, reduce expenses, increase revenues. You will be surprised at the creative solutions offered up in a free discussion. Be sure to appreciate everyone's efforts, whether or not their ideas are workable. If their ideas are appreciated this go-round, employees will continue to think about ways to improve the company, and will feel free to share those ideas as they occur. For tips on listening effectively so those ideas keep coming, click here and click here.
4. Once you've laid the groundwork for addressing economic concerns in a positive way, gather your employees together and invite them to discuss their anxieties, fears, concerns, and hopes.
This enables you to address concerns that linger, and some you might not have thought existed. Sometimes people worry about things you haven't dreamed of, and don't worry about what you thought were the "obvious" concerns. Make sure you know what your people are actually thinking about. And ask for their hopes as well, as these enable them to share their positive expectations. Share your hopes, as well.
You've heard it a hundred times, and probably said it yourself: Your employees are your greatest asset. At no time is this more true than during an economic downturn. Let them prove their value to you.
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