How to Reassure Employees in Frightening Economic Times

By now we’ve all heard the news about P&G downgrading the U.S. credit rating from AAA to AA+, and that despite more jobs being added in July than expected, the perception is that we are headed for a prolonged economic slump. Your staff is aware of this, and they are deeply afraid of losing their jobs, their pensions and not being able to support their families. This fear is pervasive throughout your company, and is fostering an unhealthy workplace environment.

Although no one can predict the future, as a senior manager, HR director or business owner there are some very simple steps you can take which, if done in good faith, will go a long way towards keeping staff anxiety down during these unstable times:

Stay in Touch with Them – Especially in times like this, nothing is more anxiety-provoking than The Unknown. If your communications directly with rank-and-file employees are infrequent at best and aren’t addressing the economy, they will fear what decisions are being made about their fates on the C-level; your staff wants reassurance that those at the top have the situation well at hand.

Listen to Their Concerns – Employees have a myriad of things to worry about, but just letting them know you are aware of these concerns – and take them seriously – will help take the edge off. Now is the time to ensure that your company offers clear avenues for employees to express their unease: an open door policy, management “office hours,” an Intranet message board, general inquiry email address (“staffconcerns@yourcompany.com” or the like) or even an anonymous “Questions for Management” box are all good ideas.

Meet Them in Person – However, now is NOT the time for you to hide behind company-wide emails, voicemails and memos. Everyone knows how valuable senior management time is, and for this reason nothing communicates genuine interest and concern for your staff than to arrange meaningful interactions with them in the flesh – be it via company-wide meetings, small groups or better yet 1 on 1 – to let them know you care about their well-being.

What other ways can you think of to reassure your staff, and let them know that senior management understands their concerns about the economy, their jobs and their future with your company?