These are tough times for businesses. Odds are that your employees know it too. Like a sword hanging over their heads, they’re worried about the future, too. Here are a few suggestions to boost morale, allay fears and keep your team focused:
1. Communicate. Not knowing what is going on is worse than hearing bad news. Gather your employees and fill them in. If times are tough, ask for their help. If your business is doing well, make sure they know it. Either way, allay their fears with the truth. They can take it. They’re grownups.
2. Consider alternatives to layoffs. Surveys have found that employees would prefer pay freezes, reduction in hours, even reduction in pay to laying off a portion of the crew. Layoffs destroy morale. They can be devastating not just for those who are let go, but for those who remain. (As one ad pointed out recently: “Are you the one who was let go on Friday … or the one who has to pick up the extra workload on Monday?”)
3. Show them how to stretch their dollars. Institute a Financial Wellness program. For most people, they can easily improve their standard of living by as much as 10 % just by taking a few money-saving steps. Invest in classes or seminars, or make available books on money management.
The bottom line: Help your employees get through these challenging times … and they’ll help you. This is a golden opportunity to get everyone pulling together as a cohesive team.
Work hard. Make money. Keep morale strong. – JR Ingrisano
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Want to learn more? Check out The Back to Basics Book of Money! A Couple’s Guide to Financial Peace, by John Ingrisano. The book contains 10 valuable Couple Money Skills. Plus, the Back to Basics Book of Money Workbook (which dovetails with the main text) offers 31 practical, hands-on Wealth Builder activities that can help you and your partner build financial and domestic stability. Both the book and workbook, which retail for $31.98 plus S & H, are available at the Family Finances Conference Center website for $27.99 total.
The Family Finances Conference Center tailors programs to the unique and individual needs of client organizations and their members and employees, based on the principles of the book and workbook set, The Back to Basics Book of Money! A Couple’s Guide to Financial Peace.
Family Finances Conference Center
204 Lakeview Drive
Algoma, WI 54201
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