You are currently browsing the daily archive for February 11th, 2009.
Kenneth M. Smith, Senior Vice President, Human Resources of PolyOne Corp. offers Lessons Learned from Communicating During an Economic Downturn.
Communicate honestly and frequently: When accurate predictions are not possible, do not attempt to make a forecast. Instead, let employees know what you know—both the good and the bad. Be open about areas of uncertainty, but be emphatic about areas of certainty. Use all communications vehicles available to you, and consider adding new ones. Every executive-level or management-level communication is an opportunity to reinforce your economic crisis messaging.
Use the facts, but show empathy: All of us know that an economic crisis is occurring—we hear about every day in the news and we see it whenever we look at our personal finances. Employees need to understand the impact on the company’s customers, competitors and suppliers. Relate the larger economic picture to your individual situation and use the facts to emphasize the need for action or changes. At the same time, demonstrate empathy and compassion because the economic crisis that is impacting your company also has personal financial implications for each of your employees. While you are explaining the impact on your industry, they are thinking about how much ground their child’s college savings fund has lost.
Reinforce the fundamentals: Now is not the time to abandon your company’s core values, vision or strategy. Repeat the messages you would be communicating to employees even if the crisis was not occurring, but explain their importance in the context of the external environment. For instance, customer service is always a priority, but understanding that exceptional customer care at a time when your customers are struggling will both help your best customers survive the crisis and will instill customer loyalty that will augment your own bottom line is a powerful message. Further, message continuity provides an opportunity to reassure employees that despite a difficult environment, their company is acting rather than reacting.
Encourage involvement in the solution: Employees want to be a part of the solution—they want to help their own company survive. Changes to salaries and benefits are ways that employees are coerced to help the bottom line, but employees should also be encouraged to show initiative. Find examples of innovative cost-cutting actions taken by employees and share them throughout the company in order to inspire others. Employees need to understand that every little cost savings can make a difference and that their actions contribute to the company’s success.
Confirm your appreciation: Even under normal circumstances, it is not possible to thank your employees enough. During times of extreme duress, when perks and rewards are financially unfeasible, remember to show your appreciation for the hard work and dedication of your employees. Let them know that you value the extra hours and increased pressures they face.
