How you treat your Employees will determine the FATE of your company.
Brigette Hyacinth
CEO & Founder @Leadership EQ ?? Keynote Speaker ?? Best Selling Author ?? Consultant
I am saddened to see so many companies quick to terminate employees—companies making profits, who don’t have to terminate staff and still choose to do so. Tough times reveal our true colors. Why not work together to find solutions to keep staff on hand for this temporary situation —going to a 3 day work week, cutting salary by x%, management taking a salary reduction, etc. Give the employee the choice to stay at a reduction, or not.
Some companies have been extraordinary. There are chief executives across industries who are cutting their pay—even to zero—as part of their strategy to mitigate the impact of the coronavirus crisis. Texas Roadhouse CEO Kent Taylor is giving up his pay for the rest of the year, (March 18, 2020, to Jan. 7, 2021) to help struggling employees amid the pandemic. Why don't many leaders think like this?
Of course it's business and if a company is unprofitable there will be termination and layoffs, but how employers treat their people during this crisis, is going to impact their brand for years to come.
You get judged on how you treat people in difficult times. It’s easy to be good when times are good.
Show employees you genuinely care. Any effort a company is putting to keep their staff will go a long way in sustaining the culture and brand. Sadly, many leaders don’t care nor do they wish to care because they think caring is detrimental to the bottom line these days. These rough times are a true test of a company's corporate culture and values, especially those who say they "value people" or " put people first". As a leader everyone is looking to you. Do everything you can to fight for your employees and if you must let them go, make sure you use emotional intelligence and empathy during the termination process.
"This too shall pass", and some companies have been laying off great employees out of panic. They soon might realize that they need these people immediately when things get back to normal. These companies are just focusing on the short term. Reactionary management is not strategic leadership. One thing they are not thinking of, when we are all up and running again—they may find it harder to retain loyal employees or attract top talent. And if I was in the job market, an interview question I would definitely ask would be, “how did your company handle the pandemic?”
It's not even 2-3-4 months of lockdowns and companies are so quick to layoff employees. Consider the long term impacts. Layoffs are a short-term answer that harm a company’s long-term value. Research shows that organizations that layoff employees experience a:
- 20% decline in job performance from the remaining employees
- 36% decline in organizational commitment
- 41% decline in job satisfaction
- 31% increase in voluntary turnover the next year
If your Crisis Management Strategy is just to throw people overboard when the going gets tough, you will be in for a rude awakening. Cost cutting by cutting your main pipeline may not be such a smart idea. You would be losing intellectual resources and at a bigger risk of not maintaining a competitive advantage. Customers are also paying attention to how companies and brands are treating their employees at this time. Companies that do right by their employees will reap the benefit of loyal customers.
Employees are the branches of a tree that makes a company grow. They are your best brand ambassadors. Loyalty is a two-way street. Don't treat your people only as the means to an end. Demonstrate that you value people and in return, you will earn their loyalty.
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Leading the Workforce of the Future: Inspiring a Mindset of Passion, Innovation and Growth
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To Your continued Success!
Cheers! ??????????
EDUCATION
2 年The Managerial Economics https://www.amazon.in/dp/B0B16GDKXR/ref=cm_sw_r_awdo_1P4C5BFN9J8HM9AM46XY
The author of English grammar book in Amazon, a researcher, legal, Mgt.HR,OB content writer & teacher. Chief organizer at TOEFL & IELTS from ????????,Facebook group since 2015
3 年My question why everybody will be like you? Two people are different by culture, family background, education and so on list is unlimited. If everybody is same like you, the Jesus/Mohammad SM, did not face much troubles all the ways. Mind it, they were the most divine characters by honesty and image creation on earth, no us. I don't see anything extraordinary issue in your writing except to make curiosity to read your article, please be understood. Your every writing has one uniformity that is to make curiosity to read--the positive upshot is later issue! There for curiosity issue, you are successful only, I know many great successful industrialists/moneyed men on earth; they cannot even talk correctly, but they are great successful. Why? I know many are rude too, but they are successful, why? Given you few clues, write there when they are bad characters than their thousand workers, but they are successful. Ask here your followers here who notice it everyday! The issue is, finally, they are successful though they are bad characters. Search it why? Thanks.
Divisional Manager at Linked VA
3 年Accurate! Company owners, leaders, and/or directors are only there to give instructions but their people are the ones doing the application.
Small business redesigner for 2020, writer, artist at Self-Emloyed
4 年Excellent comment...so true...when employees think you serve them...company fails!