Tag Archive for 'team meetings'

Small business employees morale in a recession

One of the usual topics of concern and discussion during a slow economy, especially a serious recession, is asset management; watching inventory levels and keeping close tabs on cash are two prime examples. In fact, as you may know, I’ve been talking and writing a lot about this subject recently. But there is another kind of asset that must also be monitored very closely, and alas, often gets overlooked, especially when a tough economy raises frustration and pressure. I’m talking about our employees.

We small business owners get so wrapped up in growing, or saving, our baby – this business we’ve nursed from start up – that we take for granted that our employees love what we do as much as we do. After all, they show up everyday just like we do, right? So when economic times are scary, we think they have the same ability to rise above the fear and push on, just like we do. Well, it isn’t necessarily so.

As the Alpha Member of our company, we have information our employees usually don’t have, including the long-term vision, financial condition and access to capital, for example. And we know one more thing they cannot know: how committed we are to not giving up.

Whether we know it or not, during a recession, when layoffs are so much a part of the news, our employees have a level of concern – somewhere from manageable to hysterical – that we need to allow them to talk about with us and the entire team.

Recently, on my small business radio program, The Small Business Advocate Show, I talked about owners and managers proactively getting employee concerns about the economy out in the open before they get out of hand. I think you’ll find the few minutes it takes to listen to be time well spent. And be sure to leave a comment, if you have one.

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