How Do Successful Leaders Motivate Their Employees During Tough Times?

In this tough economic environment companies are struggling to find ways to keep employees motivated.  Budget cuts coupled with an intense focus on more cost containment measures have created a very different workplace. Projects have been scrapped, jobs have been lost, bonuses and raises have been trimmed and many companies have shifted to “run and maintain” mode.

For those employees who survived the question remains are they motivated or scared? Truth be told, many are scared. The top ‘10%’ suddenly has become a class that few want to be a member of. As each day passes and the pessimism for economic recovery perpetuates leaders continue to be faced with the challenge of keeping employees motivated.

So how do leaders motivate employees during tough times? First and foremost, leaders must be honest and transparent. Communication is very important during these times so it is beneficial to have regular team meetings to not only share company performance and strategy but also provide a forum to have healthy discussions.

Another effective way for leaders to stabilize a rocky boat that is being battered by the waves of uncertainty is to have one-on-one meetings with each team member. These meetings do not have to be exhaustive. The primary objective is to provide an opportunity for private conversations about issues, concerns, ideas and professional ambitions.

Reviewing and reevaluating career objectives should be a regular activity but becomes increasingly critical during trying times. Employees need to know that their skills and abilities are pertinent and their future objectives are achievable. Leaders must be careful doing this in that a failure to set realistic expectations may result in further degradation in morale.

Just because the training budget has been cut does not mean that training has been slashed. I have witnessed tough times on many occasions during my career and attribute my growth spurts to them. I often heard that adversity reveals character. But also, I believe tough times breed creativity and efficiency. This is the ideal time for lunch and learns, opportunities for employees to share industry skills and knowledge. Leaders must continue to promote training and continuing education in a variety of ways. The objective is to continue to foster a culture of continued growth.

Motivating employees during tough times is not easy but one can argue that it is no different than motivating during good times.

What are your thoughts? Are company leaders missing the mark when it pertains to motivating employees?  Do you think any of the strategies above are effective? Is the company’s financial condition, or say ability to “show the money”, the primary factor for igniting the fire of creativity and innovation.