In a down economy a business is like a car accident because everyone slows down to watch.
During tough economic times keeping employees focused and engaged is critical to ensuring your company stays in the game. Our research on top performing companies points to four leadership actions critical for success in the current environment.
Be optimistic but realistic. It’s important to be positive about the future without appearing naïve. The key is to set realistic expectations and find the right balance between resources, time, and desired outcomes. People have confidence they can succeed, even in a difficult economic period, when they feel that objectives are realistic and adequately resourced.
Hold everyone accountable for results. Tough times demand that everyone bring their “A” game and pull their own weight. Therefore, it is important that everyone understands what is expected of them and when. Then monitor progress, celebrate successes, and recalibrate or coach people to get back on track when necessary. It is also important to create an environment where people can raise problems and admit mistakes, rather than “covering up” or “pointing fingers,” which is more likely during challenging times.
Involve people in decisions. When times are tough you want everyone’s best thinking and full commitment. Now is not the time to close people out of the decision-making process in order to protect them or to ‘speed things up. Involving people in decisions increases decision quality and acceptance, and enhances engagement.
Ensure plans and actions are coordinated across departments and levels. Don’t let uncertainty or ambiguity push you into a day-to-day mindset, as this is not the time to “wing it.” However, even the best plan will fail if everyone is not pulling in the same direction. During difficult times, efficiency is critical and coordination is king.
Even in a weak economy there are winners and losers. By consistently applying the four key actions you increase the likelihood that you and your team will end up in the winner’s circle.
We’re interested in your opinion. What are you doing to keep your employees focused and engaged?
