Talking About Economic Realities

Your employees face different challenges these days, but the one thing they have in common is their concern about the future of their jobs and their workplace. If you haven’t already met as a group, they may be waiting for some news (good or bad) from management. Communicate about today’s uncertain economy and the state of your workplace.

Strategies:

• Speak up. You might think it’s best to say nothing in the face of uncertainty, but silence from management during tough times can make employees more apprehensive.With lay-offs and job cuts in the news on a daily basis, job security is on everyone’s mind. Even if you don’t have any definite information to convey, communicate regularly so employees feel like they are in the loop and that management is dealing with the situation as well as it can.
• Share the good and the bad. As much as you can, let employees know where your company stands. The economic crunch is a topic of discussion both at work and at home. Provide concrete information, when possible, to replace rumors that are circulating. If your workplace has made some wise choices and is weathering the economic downturn, now’s a great time to talk about it. Also, if tough decisions are to be made, give employees some warning.
• Use all your channels. A company-wide town meeting isn’t the only way to communicate. Use e-mail blurbs, your intranet site, a bulletin board, Q-and-A sessions, and small-group or one-on-one meetings to help spread your message. Give employees a chance to respond and voice their concerns. The more forums and channels employees have to get and share information, the more secure they may feel in this uncertain climate.

The bottom line: If employees are wondering and worrying about the financial future of your company, then productivity and morale may be suffering. Show you care. Any information is better than none at all.

Give your employees news they can use.

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