Being the boss is never easy, but it's especially challenging during times of crisis. Since the economy took a turn for the worse, managers in all types of industries and organisations have been forced to cut jobs, freeze pay and delay promotions.
Managing costs has been the main area of focus for many bosses, often at the expense of their employees' wellbeing. When you're tightening your belt, it's difficult to ensure all staff members are engaged, motivated and fulfilling their potential. But it's not impossible.
Communication is key
The best way to strike a balance is to keep the lines of communication open. Explain the thinking behind major cost cutting decisions. Let your staff see the bigger picture. Make it clear that you are asking everyone to make sacrifices now in order to prepare for future growth.
When management choices are not communicated effectively, staff members can feel alienated from their companies' decision makers. This could lead to a lack of motivation, a loss of productivity or a brain drain as top talent moves on to greener pastures.
It's therefore essential to communicate as openly and honestly as you can with your employees. Give them a chance to ask questions, voice their concerns or share their ideas. Communicating more with your workers may take up time, but you will reap the rewards.
Employees who feel involved and appreciated will be much more likely to value your business and therefore work harder in order to achieve organisational goals. Engaged workers are also more prone to loyalty, so you'll have less chance of losing your most cherished staff members when the market improves and your competitors start hiring.
Be more flexible
Another important leadership quality in the current business climate is flexibility. You must not only be able to adapt to an ever-changing marketplace, but also be open-minded when it comes to your workers' individual needs.
Just as you are balancing your various management roles, your employees are juggling their work and personal commitments. Perhaps a member of staff needs to pick up his or her children from school from every afternoon or work from home two days a week in order to care for an elderly parent. Put yourself in their shoes and try and agree on a flexible working arrangement that is mutually beneficial. You might just find that your employee is more productive as a result.
Once you've agreed on a flexible schedule, make sure to set clear objectives and monitor your employee constantly. If he or she fails to deliver, then you are justified in reinstating the original working arrangement.
On the other hand, if flexible working could negatively impact operations, then don't feel bad about saying "no". Your main responsibility is to ensure that your business has the resources it needs to run efficiently. Make an effort to ensure your employee understands this.
Give credit where it's due
It's important to reward employees who are doing an excellent job or setting a good example for their colleagues. This type of recognition needn't be financial in nature. Give a hardworking employee a box of chocolates or bunch or flowers, or allow a team to take the afternoon off after completing a big project successfully, for example.
Explain that while the company can't afford to pay bonuses this year, you will be rewarding excellent performance in other ways. This shows your employees that you value their contribution and they will want to continue making an effort.
The key to being a great leader is to ensure you have a contented workforce. Your employees will be motivated to work more efficiently, delivering a better quality service to your clients and driving your business forward.
Leading your team out of the downturn is something you can achieve without increasing your costs. All it takes is a willingness to communicate, be more flexible and give credit where it's due.
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