An economic slowdown leads to a drop in sales and profits, hampers manufacturing, reduces business investment and consumer spending, results in loss of jobs, and also limits hiring.
These are the effects that we are seeing in the UK now and the continuous debate over Brexit continues, with no real end in sight. The Small Business Prices Index keeps a running total of job losses to date, and as of the end of September 2019, it is over 420,000.*
But this is not a blog about Brexit—there have been far too many of those already—it is a blog about how to retain, motivate, and inspire people in times of hardship, slowdown, or when operating costs are limited.
Every organisation, regardless of sector or country, will go through periods where cash is not readily available for hiring new people or for developing existing ones. Yet, it is critically important during this time to not only retain good people, but also to maintain performance so that things do not get worse.
Senior managers will say things like ‘we need to do more with less’ as a way of trying to rally staff, when the reality is, the staff is often overburdened with pointless projects or worse, they see the leadership team acting in opposition to this. Offsites and consultants to tell them what they already know are seen as essential activities, whilst retaining newspapers and celebrations are not.
Diese Geschichte stammt aus der November 2019-Ausgabe von Indian Management.
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Diese Geschichte stammt aus der November 2019-Ausgabe von Indian Management.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
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Listen To Your Customers
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The hand that feeds
Providing free meals to employees is an effective way to increase engagement and boost productivity.
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Thrive at the workplace with these simple adaptations.
Plan backwards
Pioneer in the venture capital and private equity fields and co-founder of four transformational private equity firms, Bryan C Cressey opines that we have been taught backwards in many important ways, people can work an entire career without seeing these roadblocks to their achievements, and if you recognise and bust these five myths, you will become far more successful.
For a sweet deal
Negotiation is a discovery process for both sides; better interactions will lead all parties to what they want.
Humanise. Optimise. Digitise
Engaging employees in critical to the survival of an organisation, since the future of business is (still) people.
Beyond the call of duty
A servant leadership model can serve the purpose best when dealing with a distributed workforce.
Workplace courage
Leaders need to build courage in order to enhance their self-reliance and contribution to the team.
Focused on reality
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