Keeping Your Employees Happy During Economic Crisis

In our world of economic crisis, it is dangerous to assume your employees are going to work to their potential just because you are paying them. Chances are likely their current pay rate has not increased with the current cost of living. Two years ago what kept your employees happy is no longer enough to keep their interest today. Lose their attention now, and you are looking for new employees and the cost that goes with the hiring process, training and your time.

I know what you are thinking, I am by no way suggesting a raise, let's face it, you are going through the same economic crunch as your employees. Low cost or no cost solutions have to be implemented to save your business.

First, let's change your perception of your business. You started your business with a vision in mind and it is your responsibility to make it work. Don't forget you had to think out of the box to get where you are today. It takes a courageous person to take on the financial burden of a business. Although you are in charge, you need to keep in mind your business relies on your employees to function; they are your face to your customers and your business associates.

Listen: You work with a team and each member has their own perception on how it should run. It is important to discuss the direction you see your business heading, what your goals are and how you plan to reach them. While you might have an idea of how you want to accomplish your vision, your team might have another avenue to achieve the same goal. Even if you don't follow through with their plan, give them the opportunity to voice their opinion. Listening, truly listening is key.

Provide information. The more your team understands what goes on behind the scenes, the more likely they are to work together on your goal. A sense of ownership is one of the most important feelings you can instill. You don't have to give away the family secrets, but with the proper amount of knowledge, your team will start considering how their specific job gets you closer and closer to your goal.

Provide comforts. Google has the corner on the market for providing perks to their employees, earning the title of #1 company to work for two years in a row. Perks ranging from paid health insurance, onsite childcare, 17 cafeterias at no charge to the employee, even bringing their pets to work (with a few restrictions) are some of the ways Google keeps their employees happy and productive. It doesn't take that much for your team to feel appreciated; you could keep a bowl of fresh fruit, or stock a refrigerator with bottled water. It is the small things that make the difference.

Tell them. One of the greatest motivating tools you have is your honest appreciation. If a team member did a good job on a project, tell them. People like to know someone noticed and are more likely to work as hard or harder the next time around. It doesn't take a long in depth conversation about every characteristic of the project, a simple, "I noticed you did a great job on _______and I truly appreciated your effort," is sufficient. Make sure you are mentioning specific projects or details; otherwise your appreciation is empty of meaning.

Know their motivation. While some will respond to a pat on the back, others need to know you listen and take their thoughts into consideration. Simple things like wishing them a Happy Birthday or asking about their aging parent shows compassion and will instill a feeling of family; it's easy to leave a job, but a boss who cares about you, that is hard to come by.

Hang in there! Business will pick back up and your business will be solid with happy employees!