There is no doubt that the global economic crisis has presented its challenges to both big business and small alike. Keeping our best people motivated and happy is a challenge for any business leader in the best of times so how do we not only keep our best people employed but also keep them going through the tough times? Some businesses have people who are our high performers and these people are in big demand out there in the market. I’m not just talking about the “ Top Gun” sales person who brings in the big orders but also the other members of the team who become indispensible to your business, I’m talking about the people who will help a business succeed even in the most difficult of times. They are the ones who pick up the slack when the organisation is forced to cut back; those who continually come up with ideas on how to save time, money, and effort; and never underestimate those whose positive outlook help keep the organization and their team mates moving forward.
So how do we retain these people?
The answer is simple. Leaders must give the same attention and care to their human resources as they devote to their financial assets. For leaders under pressure to perform financially it may seem difficult to balance their focus when the economy is tough, however, it is critical to the business’ success to make sure the people who manage your business are not forgotten. There are a few different ways that organisations can ensure that they are taking care of their human resources and not only retain them but develop them to become future leaders of the business.
Have Some Respect: Even though you and the organisation are under pressure don’t take it out on your people. You must continue to treat people with kindness, respect, and dignity. It will ensure their continued loyalty through the hard times.
Create a Flourishing Environment: Creating an environment in which your best people want to stay and perform at their best takes more than a ”knee-jerk” employee motivation program. The flourishing environment is a place where people are continually given the opportunity to learn, honing their skills through a solid training and developing program. It also should be a “safe” place where people feel they are free to make inquiry and start a dialogue with their boss without fear of being fobbed off. A good leader will take the time to provide feedback to their people so that they feel stretched and challenged.
Offer Cross Training: A business that gives people the opportunity to experience and train in different aspects of the company is a great way to cross-fertilise skills sets and experience between departments and across regions. This is a great competitive advantage when organisations are required to cut back on manpower. Cross-trained employees are equipped to handle different functions in the organisation far more easily than those confined in silos.
Provide Coaching: A leader who develops skills in coaching and is able to work one-on-one with their direct reports or who brings in skilled coaches to work with the team can discover and tap the talents of those people and direct their development. Aligning their behaviors and skills to the core strategy and purpose of the business will also make them advocates for change, enhancing the success of the organisation.
Give Feedback: The leader who recognises that ongoing feedback is a continuous process and not just an annual event that happens at the annual review meeting will be one step closer to engaging their people. Feedback need not be just about performance but also should cover issues such as handling work/life balance, developing networks, job skills and training. The organisation may consider setting up mentoring programs, support groups and action committees.
Developing people should always be part of the strategic plan.
Money and Autonomy: Money is a key motivator for anyone but it’s rarely the most important one. As long as a person feels fairly remunerated they will be looking for other types of benefits and a key benefit people tend to look for is that of autonomy and the ability to be part of the decision making process. If a business can introduce ways to involve their people in how the business operates, how it can increase it’s effectiveness, be more cost effective and introduce new products or services. If a leader is bold enough to open this up to the team they will find that most people have the most amazing, creative ideas and a good handle on how to implement them because after all, they are working at the coal-face everyday – who better to ask!. So, developing people should always be part of the strategic plan. Not only will it add value to your people’s lives but adds dollars to the bottom line. Organisations that create a flourishing environment for their people to work and grow in will reap the financial rewards and hang on to their best people, even when the going gets tough. This approach will help sustain the business through the down cycles and lead to success for everyone.
