Employees who feel engaged by their employers have strong emotional bonds to their jobs, care about the future of the company and, in turn, are willing to invest discretionary effort into their work. As a whole, an engaged workforce supports increased company performance and profitability.
With the Dow Jones dropping, national unemployment rates rising and many companies downsizing, employers across the board have been faced with tough business decisions. Here are a few ways management can drive and support employee engagement during times of uncertainty:
- Partnerships. A culture of collaboration promotes innovation and understanding during a shaky economy. Managers need to continue to focus on approachability, meaningful dialogue, people connections, style adaptation and commitment. If partnerships are missing from your workplace, now is a great time to start building them.
- Communication. Keep employees informed and updated, even if the news isn’t always good. Employees need a constant stream of information, reinforced in different ways by different parties. Use weekly staff meetings to provide updates, team meetings to break the information into project-specific initiatives, and bi-weekly 1-on-1 discussions to help answer individual concerns and gain feedback. Lack of communication will deteriorate employee trust.
- Benefits. During difficult economic times, employees need to feel like their personal security needs are being met. Continuing to have quality, affordable benefits in difficult economic times is necessary. Scaling back employee benefits, while sometimes necessary, almost always negatively impacts employee engagement.
- Opportunity. Envisioning opportunity in the midst of a crisis can be difficult, but its critical employees understand opportunities exist. Managers should focus on providing employees with insight as to how their current position supports both present and future growth potential on both sides. Outlining how an employee can impact company success during a recession will help him or her stay positive.
An engaged workforce doesn’t completely shield a company from an economic recession. It can, however, help protect your organization from the effects of the economic downturn.