Hard Economies Are X-Rays of Culture. And Everyone Can See.

In a good economy...

Everyone raves about culture, and perks, and DEI, and training, and onboarding, etc.?

But, in a tough economy??

When talent is "easier" to find??

When people "have to stay," even if they’re unhappy??

That’s when you can see which companies cared all along.?

You can see which ones are opportunistic, doing the minimum amount to still (in their mind) maximize profit.

That’s when the X-Ray machine whirls…

Because everyone can see. Everyone is watching.?

Why It Matters:?

There are no secrets in business.?

Our clients, customers, and vendors DO get a sense of our values.

And hard times in the marketplace show our true colors.

So, how can you prioritize culture—even when things are tough?

Here are five suggestions.

1) Take Inventory of Your Core Beliefs

Start by getting clear on what you really believe in as a company…

What are your non-negotiable values??

What is the foundation upon which your mission statement is built??

From the daily grind, to the unforeseen challenges, to the successes…

The circumstances don’t matter.

These are the core principles that should always point you to True North.??

2) Evaluate What This Should Look Like in Practice

So, you’ve defined your core beliefs…

How do they actually play out in your day-to-day operations??

Values are obsolete if they aren’t actionable, no matter how good they look on paper.?

Only what can be measured will be done.

Determine the areas where your value system should shine. Hiring, employee development, customer interactions, decision-making processes…

Through consistent evaluation, you’ll see where your culture is strong and where it needs work.?

3) Seek Feedback from Your Team

Your team is the heartbeat of your company culture…

So listen to them.

Ask for honest feedback.?

And create an environment where employees know they can share their thoughts.

Do they see the company living out its values every day??

Their feedback will give you a reality check and help you identify areas for improvement.?

4) Determine How to Live Out These Beliefs, Good Economy or Bad

You’ve made a commitment. And sometimes decisions that align with your core beliefs will take you down roads that are far from smooth.?

If you believe in fairness and respect, that should guide how you handle layoffs, pay cuts, or benefit reductions.?

If transparency is a key value, then you should be communicating openly and honestly with your team about the challenges ahead.

5) Then, DO IT

Walking the walk isn’t just some tired saying…

Especially in a hard economy where talk is cheap.?

Let your actions do the talking…?

Did you stick to your values when it would’ve been easier to abandon them? Did your employees see you making decisions that reflect what you stand for??

How you act now will define your reputation long after the economy recovers.?

Encouragement for the Journey

Action is awfully loud right now.?

But there are lots of wonderful examples of organizations shining a light in this area.

When we find great role models…

It supports us on this journey.?

At Saterman Connect, we are privileged to work with these inspiring companies every day.?