How to Keep Your Company Engaged During Recession

We all are going through tough times right now. The COVID-19 virus is not only making people very sick, but also the economy. There are a lot of people going out of business and or unemployed.

So is there something you can do to keep your company alive?

If you have the type of business that is possible to work from home, than you might just make it. But times like these require a different approach to how you manage things. The people working with you must now more than ever feel like they are an important piece of the company and not just another employee.

Here are some things that you must do to keep your workers happy and engaged.

1 – Make the purpose clear to everyone.

Why is it important that your company stays alive and well? What is it that that your company is doing to serve the people in times of need? Do you work on the banking sector? Maybe it’s important to let the people know that their money is safe and that you can provide all the tools and support one might need.

Make the purpose clear and everyone will be more focused and become more productive.

2 – Recognition, value and feedback

When the working paradigm changes everyone has to adapt, and adaptation takes time. During these times it’s especially important to give recognition for the extra effort everyone is doing, praise and give feedback on how the work is progressing.

It’s also a good idea to empower people to share their ideas and implement them.

3 – Compensation and incentives

Even though the current generation might be more concerned with professional fulfillment than with salary, a higher pay will always carry a lot of weight. Unfortunately for a big part of the industries out there it’s more financially rewarding for someone to change jobs after one or two years, than to stay within a company. Being a “Mercenary” is more rewarding that Loyalty and it shouldn’t.

During hard times is when people are afraid, and that usually means they will try to get as much resources as they can. So if you want to keep your people, you should reward them accordingly.

4 – Leisure Activities

Activities outside the workplace are great for bonding. Bonding will make people trust more and communicate more with each other while working. This will greatly improve their teamwork and productivity.

It could be something simple like having a drinks after work or organize an event like paintball or a workout in the park.

During a major crisis like the current pandemic, it is not possible to meet people face to face and because of that it’s specially important to interact as much as possible. Organize regular calls to talk about how’s everyone doing, what’s for dinner or movie recommendations.

Don’t let your people feel alone.

Employees are a company’s biggest asset. Treat them the best way you can and your odds of surviving a major crisis will greatly improve.

Now tell me.

How is your company treating its people? What other advises would you give?

Let me know in the comments.

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