How should you allay fears of your employees at the time of recession

Friday, May 15, 2009

How should you allay fears of your employees at the time of recession

The recession has hit each and every company in every country around the world. The employees come to know they have been sacked as they reach their office to resume their day’s work.

The precarious financial condition of the companies had put employees in a soup.

Company’s inability to book profits had thrown the employees in a mix.

As the manager of a company, how should you treat your employees to allay fears from their minds?

The best model that you could set to your existing employees is how you treat those who had been laid off.

The crunch times would be eventually meaning that the company won’t be able to arrange a hefty compensation package to the laid off employee, but still a lot can be done to make him more comfortable. The company needs to put down an honest reason for the lay off.

The employees will be more at ease if they see companies protect their interests.

A member of the senor governing body should own up the responsibility for the layoffs. Instead of saying ‘the organization had decided to proceed with the layoffs’, his statement should have something as ‘I gave a thought, and eventually decided to continue with the layoff’.

The company should also make sure that a certain compensation package, not necessarily a hefty one, be arranged for employees who had been laid off.

The laid off employees should also be given an experience certificate by the company, which would help the employees to get a job in the future.

If the company could arrange a counseling session for those who had been laid off to help them recover from the present state of trauma, it would be a boon for them.

Favorable treatment of laid off employees by the company helps existing employees to have more confidence in the company. It provides a congenial working environment where employees would love to work on. It would crush any fears from their minds.

You should try and provide a regular update to the employees to reassure them of the company’s status.

As a manager, you should try and inspire your employees by urging them to work without fear. You should add that the company has been trying its best to overcome recession fears, and the company had, in fact, succeeded in overcoming any further downsides.

If your company decides to undertake a pay cut, appreciate your employees by telling them that the company is thankful to the employees for bearing the hardships during the time of recession.

Bring a touch of transparency to the functioning of your company and the employees would love you for that.

They would remember you and keep you in high esteem long after the recession gets over.

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