You probably can't afford raises and promotions this year, how do you ensure that your best remain with you?
“Success is not final; failure is not fatal; it’s the courage to continue that counts.” This classic quote by Winston Churchill says more than enough for any organisation determined to make it over the bridge.
The COVID19 outbreak has undoubtedly affected economies of the entire globe, impacting the employment scenario for everybody. Decisions like salary cuts, layoffs, employee status being changed from full-time employee to independent contractor, are subjects of concern.
No matter how dire the situation, companies still need to protect, retain and engage their human capital. In such a scenario, it’s important to know what’s important for our people. As evident, not all of us can afford raises and promotions this year.
What then are the ways that we can ensure that our best remain with us?
Offer flexibility. A friend of mine is hard pressed for time all the time. She’s helping her kid with online schooling and also managing the household. Plus she had her office work too. The one thing that matters the most in these times is ‘health’, including mental wellness. To support that, “Give them Time.” Give them time to connect with their family, to connect with their friends, to help someone, to help themselves. You need to ensure they have the flexibility to concentrate on their mental health.
Encourage loyalty by leading the way. Show compassion and gratitude. Be grateful to those working with and for you. You cannot offer them incentives or raises for their performance right now, but you can convey the significance of their work and share ratings. Let them know that you see and acknowledge their hard work. Share the repercussions of the hit. Be loyal to them. A simple personalised thank you email goes a long way. Appreciate the workers and their work.
Build room for ‘social dialogues’ for a strong workplace culture. Conversations can help us sail through difficult times and situations. Dialogue, meaning communication from both ends, is essential for the health of individuals and their relationship with the workplace. Engage with your employees, communicate with representative bodies, take measures to facilitate democratic conversations.
Honesty, as a virtue, can never be overestimated. With everything full of uncertainty around us, honesty can help bring some certainty to life. Ensure equitable distribution of information amongst all lives associated to you. Let your people know what you know. Let them know that they are not alone and that everyone is in this together. Everyone knows that the economy has been hit pretty bad. Your honesty today will decide where their future commitment lie. Let them know about the financial status of the company, about how the company is planning to distribute salaries.
These times have made us all very aware of our being human. Support and care. I read somewhere, “At the end of the day, we will all be judged by the courage in our hearts.” Lead with love and courage. Things will fall in place.
