How to survive in the organization in slowdown?
In times of economic slowdown, it is important to develop individual skills like ability to work in a global environment, flexibility, adaptability, relationship skills etc. to remain an inevitable organizational resource. The better the resource you are the longer you stay in the organization.
Organizations are looking to retain strong, versatile talent. So it’s important for each employee to continuously develop themselves making sure they stay relevant to the needs of the organization/market, and continue to add value. Make sure you have a great track record of delivery, be willing to go the extra mile, perhaps take on responsibilities that others may not want to do.
How companies can handle slowdown?
This will differ from company to company. Companies need to maintain laser focus on the needs of their customers, adapt their products and services to meet those customer needs, focus on retaining and developing their critical talent, be financially prudent, and show strong leadership.
How should companies motivate their employees?
People need transparency and honesty from their leadership, to engender a sense of trust. Make employees part of the solution for addressing the challenges. Communicate regularly to connect with them. Don’t make false promises. For most folks, sense of purpose and clarity of roles and responsibilities helps to keep them on track. In addition to this, employee engagement activities such as employee resource groups can be helpful.