The Jobs Free Forum

When economic downturns don’t show any signs of improvement, it leaves companies—and employees—wondering what’s next? The honest answer is, no one knows. And for the people who work in your organization that may be the most stressful part. Uncertainty breeds fear. And fear breeds discontent. When people are unsure of their future, they fill their minds, and waste time, with irrational fears and “what ifs.” Here are some more ways to retain your best employees during these challenging times:

Invest in One-to-one Management.

Schedule one-on-ones with each of your team members. Review the current situation, improvement plans being enacted, and the challenges and opportunities ahead. Outline clear expectations for the employee’s performance and the outcome that will occur if that performance is achieved. And if layoffs are likely to occur, clearly delineate the situation that will trigger the cuts and what must occur to avoid them.

Define Career Paths.

As part of your one-on-one meetings, invest time to help people review their career plan. Ask people what they want and how you can help them accomplish it. By focusing attention on an improved outcome, you create the proverbial “light at the end of the tunnel.” In the process you change the focus from challenges to opportunities.

Offer Market Pay.

While this may not be the ideal time to consider increasing personnel expenses, don’t shortchange yourself by under-compensating your staff. Evaluate your pay and benefits package to ensure it’s competitive. While money alone typically won’t spur high performance, a compensation package that is perceived as being unfair will create resentment.

Keep the Department Focused.

When people feel stressed, big projects can become overwhelming. To keep the work manageable, break big projects into phases and tasks that are less intimidating. As
a manager, your role is to maintain focus on corporate objectives while encouraging employees to concentrate on the next task to be accomplished. Also, create positive reinforcement by celebrating milestones as they are accomplished.
 
Actively “Re-recruit” Top Performers.

If you don’t already do this, this practice may sound strange. But think of it this way…your company surely invests in marketing to existing clients. Why? Because it costs five times more to get a new customer than to retain an existing one. The same is true of employees. Top performers are incredibly expensive to replace. Rather than take chances, be proactive about keeping them satisfied.