How to Motivate Employees During a Recession
It is no secret that the business environment is an employer’s market in times of economic downturn.
Employee turnover diminishes and employers have many applicants for any open positions. The result for many firms is forced employee loyalty and declining employee motivation and morale.
An employee attitude survey by Kelton Research conducted during the Great Recession found that managers were missing simple strategies to improve employee morale during that down economy. The information from this survey is timeless and its general findings could apply to a number of business situations including organizational restructuring, major changes in business strategies, etc.
Here’s what the survey found that employees want from their managers as expressions of appreciation for their loyalty during times of organizational difficulties:
- Training for new duties and responsibilities (33%)
- A promotion or new title (33%)
- Verbal recognition for their performance (32%)
- Specific feedback on their performance (26%)
- Discussion about their career path at the company (25%)
- Company-wide recognition for their accomplishments (24%)
The survey concludes that managers’ lack of feedback and employee development will lead to employee apathy.
Managerial inattention to this growing apathy will hurt the overall productivity of the organization, particularly when the general economic and business climate improves for markets in general and employees in particular.Three things organizations can do to keep employee morale positive during a down time are (1) provide verbal recognition, (2) discuss career path opportunities, and (3) provide training for new duties. Click To Tweet
This article is accurate to the best of the author’s knowledge.
Content is for informational or educational purposes only and does not substitute for professional advice in business, management, legal, or human resource matters.