In the days and weeks since the economy began to sink, the workforce has been on an emotional roller coaster. Some people have fallen into terrible levels of fear, uncertainty, and frustration. And so it goes on and on. While no one knows the outcome of our current situation, one fact is indisputable: the out-of-control emotions and financial condition of our employees will have a tremendous impact on worker motivation, employee retention, and productivity.
How can business leaders lead after this crisis? No two people respond to these events in exactly the same way. Some may appear unaffected, others may exhibit unusual behavior, and still others may react dramatically. The actions business leaders take today can help improve productivity, stay motivated, and prevent a mass exodus of alienated employees when the economy changes.
Managers have a critical role to play in these uncertain times; in fact, the way managers treat their employees today will continue to resonate tomorrow. In US offices, employees have been laid off while other companies have closed their doors forever.
In times of crisis, communication is vital. A frustrated CFO accidentally told some employees that they were “lucky to have a job.” That act did more to damage the morale and loyalty of the workforce than anything else.
Just as the United States is developing an economic plan to stabilize the economy, managers need a strategy to help their companies overcome the current crisis. I offer the following 10 steps, which are organized under the acronym TAKE CHARGE, to manage, motivate and guide your employees in a radically changed work environment.
T-Target fears and anxiety. People go through a number of emotions during crisis situations, starting with concerns about their job security, their compensation, and their ability to pay their bills. Job layoff announcements have exacerbated fear and anxiety. Managers must plan to address each of these concerns.
A-Accept the fact that performance and productivity will drop. People respond differently in crisis situations. Expect to see people having difficulty concentrating, being forgetful, showing anger, and showing increased absenteeism – all normal responses. People will need to talk more, a natural aspect of dealing with this crisis. The more they talk, the healthier the organization becomes. Expressions of concern and help with simple daily tasks will go a long way toward improving productivity.
K-Keep communication open. During times of crisis and uncertainty, business leaders tend to have information, which will wreak havoc on workforce motivation. Meet with staff members at all levels to voice your concern, as well as to promote available resources and other services. Obviously, people want to know about their job security and compensation. Focus groups and public meetings can be very helpful in helping people deal with the situation.
Educate managers and supervisors online. Human resource professionals, managers, and supervisors must be equipped with the resources, information, and authority to assist employees. Training should include how to identify and help with stress, as well as other problems related to financial difficulties. Identify the most vulnerable and ask questions to determine how they are doing both at work and at home.
C-Calm, confident and reassuring leadership style. Don’t underestimate the importance of your personal leadership style. Showing a calm and confident leadership style can go a long way in maintaining stability and productivity. Managers should try to compartmentalize their own personal fears and concerns.
Help those in need first. Do not make assumptions about how people feel or how they have been affected by this crisis. While many will share their feelings, others will try to handle the burden themselves. Recognize that some people may need professional assistance, so make sure they understand how to access the employee assistance program. (EAP)
A-Allow people to show their emotions. People are as diverse as their emotions and they display them in different ways. Allow them to express their feelings and emotions appropriately. One company has set up a monthly meeting called “Rumor Factory Meeting” where they address all the misinformation and rumors that circulated that month.
R-Restrict negative behavior. A crisis brings out the best and the worst in people. Make sure your performance management process addresses the performance issues caused by the financial crisis. Be aware and take the appropriate measures to prevent theft. Make it clear, in no uncertain terms, that this type of behavior will not be tolerated and will be dealt with accordingly.
G-Get people to hug and support each other. The success of any business is the people who work there. Similar to an act of terrorism, a financial crisis creates psychological damage to self-esteem: it rapes them and tries to steal control over their lives. The role of management is to give control back to the people. Interstate Battery Company cares about the spiritual and emotional health of its workforce. Therefore, they have a full-time chaplain to help people with care and support.
E-Wait and plan for the long term. Unfortunately, this financial uncertainty will be with us for a long time. Make sure you allow activities to keep people motivated and engaged. Graham Weston, co-founder and CEO of San Antonio-based Rackspace Managed Hosting, finds this creative way to motivate employees and it packs a punch. Outstanding employees get the keys to the BMW M3 convertible from the CEO for a week. He says, “When someone can drive my car for a week, they never forget.”
Applying these ten steps is not only the right thing to do; it’s the smartest thing to do from a business point of view. Don’t abandon your employees. They will remember how you treated them during this emotional time. If you want your organization to be a place where the best and the brightest will want to work in the future, you need to be careful what you do in the here and now.