Working at a Downsized Company
How to Keep Your Morale High (from the EMPLOYER perspective)
Thoughts from Coach Bob
Part 2 of 2
Click here for Part 1.
By Bob Barkett, CPA
OK. You did it! After listening to the advice of your experts and looking at the balance in the checkbook, you downsize 25% of your personnel and cut management salaries by 10%. It wasn’t easy and, in fact, it was a terrible experience. You order a complete review of job descriptions and issue a hiring freeze. But how do you keep the employees operating at optimum efficiency with only 75% of the workforce?
You call Coach Bob and ask his advice.
COMMUNICATION – Its obvious to you why you needed to make the staff reductions and cut management salaries but what do the employees think. Remember you have the resources of the financial statements, outside consultants and all departments in making your decisions. The employee doesn’t have these resources to form a big picture opinion. So, its more important than ever to communicate why such moves were necessary, your plans to improve company operations and to express your concern and understanding for their welfare.
JOB CONSOLIDATION – You may consider job changes and more sharing of responsibilities. It would be helpful to explain these changes to your employees and how it will affect all departments. Also, ask employees for their input and suggestions and you may be surprised at their creativity and resources.
WORK AND LIFE BALANCE – Just like yourself, the employees have a life beyond work. Talk about ways work and family time can be integrated and consider offering more flexibility in work hours.
COMPENSATION – Is this an opportunity to change the pay system to be more profit and performance based? Everyone’s concerns are about money, earnings, 401K match and a fair system of sharing. So, why not take the time to talk about it.
Tough times create opportunities to make changes. Also, keep in touch with the downsized 25%. You may need them again and it just may help them get through these times.
Bob Barkett is a Partner Emeritus with Skoda Minotti and operates a business coaching at Horizons Coaching, Inc. He can be reached at 216.406.0779. For more information visit his web site www.horizonscoach.com.