Managing Recession
The current recession will have an effect on all businesses, on some a greater effect than others. The economy has changed, your markets may change, and your customers may change. Your business will need to respond to these changes. Staff numbers may need to change, and the skills of those staff may need to change. And you need to manage all of this.
So, what can you do....?
Have a clear communication plan
- Help the staff to understand the strategic aim of the changes
- Listen to their concerns and act on them
- Maintain a regular flow of information
Involve staff in planning
- Many of the most effective ideas for business improvement are known to those “on the front line”
- Demonstrate that you take their ideas seriously
Offer training
- Identify the key skills required to achieve the business goals
- Developing staff skills will show that the business cares about the future of the staff
Be a visible leader
- Be proactive, open and approachable
- Lead by example – remain positive and enthusiastic
- Listen to the staff
- Identify and create the right environment in which staff can be fully effective
Do you have experiences that would help others? This e-mail address is being protected from spambots. You need JavaScript enabled to view it – your feedback is valuable and welcomed.