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Wednesday, February 11, 2009

Helping Employees During a Recession

Here in the early days of 2009, people the world over are feeling the effects of the global recession. The daily news is blaring stories of massive layoffs, cutbacks, and closures. After a while, all of this bad news takes it toll. As a manager, how can you help your employees during this difficult time?

If your business is doing fairly well or has stabilized after downsizing, it is a good time to help focus employees on doing their best to retain existing customers. Good customers who pay on time are golden! Elite Jobs for elite professionals! Let Doostang help accelerate your career.

During the period of focus, remind your employees of their successes. While it may sound like a pep talk, its more than that. It is a vote of confidence for the individuals who are sustaining the company through hard times.

Remind your employees of often overlooked or under utilized benefits, in particular, educational reimbursement. New thinking and skills lead economies out of recessions. Having your employees ready, from an educational point of view, is good for them and for the company. It can also be a tax benefit for the company. Don't forget retirement and 401(k) plans either!

Difficult times also call for imaginative thinking. When resources are cut the old saying "necessity is the mother of invention" stands out. Encourage employees to imagine both new products and services, as well as new ways to run the business. Maybe, just maybe, there is a transformative idea that will set the business on the path to new success.

As managers, we should see the human side of our employees first. Recognizing the needs of our employees allows us to best execute our corporate mission. Recessionary periods increase the need for positive communication and reassurance. Focusing on the positive can help to inspire employees who are fearful and distressed and motivate them to do their best. Recessions are hard on companies and employees, but managers can do their part to see the business through by nurturing their most valuable assets, their employees.

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