Showing that you care about your employees is paramount to creating a work environment that employees want to be a part of when times are tough. Would flexible work arrangements or a 4-day work week boost morale and productivity levels?.Would employees prefer to forego perks and benefits schemes for a bump in their pay packet? .
If layoffs are on the table, would employees take a pay cut to guarantee everyone’s job security? .Here are some discussions you could have: One practical way you can accommodate the individuals that make up your workforce is to garner their views on compensation. In such an environment, you would listen to your employees and treat them as individuals. When you face the prospect of downsizing through layoffs, one of the best moves is to make each employee on your books feel as if they’re valued and that their voice is heard.Ĭreating a close-knit community is a great way of tightening work bonds, and it can support a healthy environment of collaboration and communication. That’s why being upfront and honest is refreshing, as it’s in short supply and lifts some of the fog of uncertainty employees experience. In an economic recession, uncertainty is the only guarantee. There’s also the added comfort that comes from knowing what’s going to happen.
If you have to cut costs and terminate some jobs, make it clear that this is going to happen ahead of time, so it doesn’t blindside your workforce. Not only does it come across as cowardly to lay off a lot of employees during a recession with no prior notice, but it also diminishes any trust - and loyalty - your workforce has in the company.ĭon’t take the risk and try to pull a fast one over your employees in a recession. This is much better than the alternative which we’ve seen with Big Tech in early 2023 - mass layoffs that come as a surprise, often communicated via an automated system or email. Online chat and video support in English,French,and SpanishĪt a time when rumors are flying around of mass layoffs and financial uncertainty in employees' lives, the worst thing you can do is feed fuel to the fire by staying silent.Įven though it may seem counterintuitive and that it might cause widespread panic in the workforce - being transparent in your communication is the best thing you can do during a recession.īecause when you’re honest and open with your employees, you create an environment of trust. Basic plan:$30 for 5 users+$5 per additional user
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