Mark Roden, a Subway Franchise Owner, as quoted in azcentral.com:
“This is a time when you have an excuse to cut back, but now is really the time to show your commitment to your employees.”
From an Adecco article:
Keep the line of communication open and honest — Don’t hide vital information from your employees.
The only thing worse than laying someone off is losing key talent because they feared for their jobs.
Talk frequently — Communicate as often as possible, striving to keep your staff well-informed about what’s happening internally and externally and how it will affect their place a the company.
Be creative — companies will need to be as innovative and creative as possible to successfully meet the current challenges.
Treat everyone with respect — Unfortunately, the effects of a recession are not limited to the workplace. Many of your employees will be under additional stress in their personal lives. Going the extra mile and making sure everyone is treated fairly will not go unnoticed and will yield huge benefits in the form of better retention when everything turns back around.
More coming in the upcoming weeks…