Tips on Engaging Employees During Down Cycle
Bad times come and go. To assure operations are positioned for the good times, manufacturers must act strategically to keep their workforce strong and engaged.
John Mills with Rideau Recognition Solutions suggests these strategies for keeping key employees during a downturn.
1. Ask what they need. Recessionary markets crimp resources, which can make it difficult to grant raises or other perks. Encourage employees to create and share their long-term hopes. While their hopes may not be realized immediately, you can listen and document. You may hear great productivity-boosting ideas worth your investment when the market improves.
2. Find out what they want. Listen not only to what they need but also what they want. It demonstrates you care about their well-being as much as profits. Listening does not mean you will make good on every request. Connecting an employee who’s worried about retirement with a reputable financial planner can be just as meaningful as a paid-for perk.
3. Be 100% transparent. Tell the truth about what’s happening with the business and explain the steps you’re taking to remain financially strong. Then, solicit feedback. Employees who feel heard are more likely to be engaged and wait patiently for benefits, bonuses, and other perks to return.
4. Recognize outstanding work. Employees work smarter and more productively when they know management will recognize and reward a job well done. The impact can be huge. Research compiled at Rideau concludes that employee engagement, productivity and customer service are, on average, 14% better in companies whose managers regularly recognize great work.
5. Reward everyone, not just your top performers. A particularly toxic management theory holds that you should spend the majority of your time on top performers. In focusing only on them, you miss opportunities to recognize workers who stumble upon potential breakthroughs. Take the time to find, encourage and reward those who achieve unexpectedly.
Source: Industry Week S