The news today is grim: The U.S. economy lost 159,000 more jobs in September. It was the ninth consecutive monthly decline in employment.
Credit is tighter than anyone can remember. The markets are turbulent, and Congress is dithering.
But business goes on. In times like these, when everything is on the line, what can you do to engage employees in the face of such bleak uncertainty?
We offer these six strategies:
First, be candid about your situation. In stressful times, rumors travel even faster than usual. They are borne of idle speculation. After all, information abhors a vacuum. What it lacks, it fabricates. Don’t let the rumor mill beat you.
Even when a rumor proves correct, it represents four missed opportunities for you. You lose the opportunity to be the source of reliable information. You lose the opportunity to put information in an appropriate context. You lose the opportunity to explain the rationale for a decision. Most of all, you lose the opportunity to lead, to inspire, to build up.
Second, be realistic. Just as you adjust your goals in good times, so you may have to adjust them in difficult times. Your best people will experience setbacks for no fault of their own. That doesn’t make them incompetent, and it’s no reason to bring down a sledgehammer, given the situation facing everyone. At the same time, don’t lose sight of your goals altogether.
Third, look for hidden competitive advantages. Recognize that your competitors are having difficulty of their own. Any company that can garner even a marginal edge will be that much ahead. This is a good time to visit that customer or field office you haven’t seen since last year. It’s also a good time to ask questions and to think more creatively. It’s a good time to explore long-range plans, and it’s a good time to fill gaps in your staff competencies.
Fourth, be more present and available to your people. Hiding in your office during difficult times sends a message of isolation and desperation. The more accessible you are, the more positive your people will feel. A caveat: Don’t use your wandering-around time to peer over shoulders or to second-guess people, and take a pass on nitpicking. Use this time to collaborate. Use it to learn. Use it to grow relationships of trust and dignity and mutual respect.
Fifth, find little reasons to celebrate. In times like this, it’s perfectly fine to celebrate the retention of a customer or the acquisition of a relatively small account or even billing an expected order. It’s vital to keep people upbeat in the face of adversity.
Finally, use these trying times to build camaraderie. Early in my own career, the company where I worked could not meet its payroll. We all took salary cuts and a day off every other week. But we survived that recession, and it brought us all together. We were stronger as a result in the boom that followed, and ultimately we grew faster than our competitors.
Remember that the economy will always be cyclical. Tough times are indeed tough, but they needn’t be your undoing. Good luck, and God bless.
