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7 Ways to Manage HR Through a Crisis
Can you feeling the tension at work that's seemingly everywhere else? With the presidential election in just a few weeks and the continual negative daily onslaught of the financial crisis, everyone seems to be much more sensitive, worried and tense. People are more confrontational, aggressive, and eager to defend their own position and blame the other guy. You're likely seeing it play out through more employee relations issues emerging than usual that you're now having to manage. How is all of this negativity playing out in your company? Understandably, your employees are anxious about their job security and financial stability. Financial concerns affect emotional and physical health with a trickle-down effect directly impacting the workplace. Facing multiple financial concerns, employees are irritable, distracted and downright mad, resulting in decreased productivity according to respondents of a recent survey conducted by Workplace Options. Understandably, the economic crisis and declining 401K balances have impacted employee's decisions to delay retirement. For most employees, a "paper loss" in their retirement account is tough enough to weather without outright panic. Consider how it must feel for those individuals who've worked and saved all of their lives only to have lost a substantial chunk of money during this financial crisis (through no fault of their own!?). Another dynamic is unfolding. Everyone wants to be reassured that things will get better, that everything will be okay. Everyone is hungry for genuine leadership. Politics aside, we are desperate for leadership from someone who will instill confidence in us of their ability to effectively lead us through these difficult times and whatever future unknown challenges we will face. People are hungry for leadership and direction at work too. It's time for you to step up to the plate to directly face this challenge by doing what's best for your employees now to contain and control the fear. If no information or communication is forthcoming from your CEO or senior management, employees create their own stories based upon assumptions. The rumor mill runs rampant, sometimes being unbelievably accurate. Don't use withholding information as a power play; your employees want and need to know where they stand with your company. What's a HR Pro to do? Communicate, and then communicate some more. Often and effectively through numerous channels. Even if you're not the person in your company to deliver the message to employees about its financial situation, actively seek and obtain buy-in and support from your CEO and senior management team on the need to communicate with staff. Here are recommendations on how you can reassure your employees and foster employee loyalty by doing so: |
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1). Hold a "town hall" meeting with employees and your senior management team. Your CEO can talk about the key challenges the company is facing, how it will directly impact employees, and what he needs now from employees to help the company continue to move forward to meet its goals. In the same meeting, have your CFO give a brief overview of how your company is doing financially. Use bullet points to emphasize key lessons you want your employees to take away from the meeting. Open up the meeting to employee questions from the CEO and members of senior management. Hold it after regular business hours for 90 minutes and of course, you'll need to pay your non-exempt employees overtime pay to attend (in the state of California; check your state's overtime laws). Oh, and don't forget to feed your employees during this meeting. It doesn't have to be expensive or extravagant. It will make the meeting more festive (and popular) by ordering pizza and drinks, or cookies, fruit and coffee, something simple. 2). Hold "town hall" meetings at least once each quarter to keep employees informed and up to date on company performance and related issues. In the interim, each department head can hold staff meetings on a regular basis to keep employees informed. 3). Revisit your fiduciary responsibility in your employee's retirement plan investment options. Your Investment Committee (usually the VP of HR and the CFO, CEO and other senior management members) needs to review the mix and performance of selected investment options to make sure you're providing the safe, sound investing opportunities for your employees. You can hire an outside consulting firm to conduct this review for your company to provide one additional level of protection for your Investment Committee members. 4). Schedule your 401K carrier to come onsite to conduct numerous employee meetings. This recommendation is critical; if you haven't already scheduled these visits call your 401K carrier today! The meetings can be held in a group format, with additional one-on-one meetings to be held between investment representatives and soon-to-retire employees scheduled to depart within the next 6-12 months. 5). Publish a company newsletter on a regular schedule. Make it available where employees will read it whether it's online or on the back of a bathroom stall door! 6). Conduct informal online surveys on employee issues. As an example, prior to open enrollment you can survey your employees on what's working, what's not working, and how to improve the overall benefits package at work. 7). Have fun! Kick off the holiday season with a Halloween costume contest complete with bobbing for apples! Create a contest between departments to dress up with themes and decorate their office. Serve pumpkin pie, root beer floats, or Halloween candy. Have fun prizes for 1st, 2nd, and 3rd place winners such as haunted house tickets. Try to create a little levity at work and give your people a chance to relax, have fun, and forget about these trying times, if only for an afternoon! Copyright 2008, Regan HR, Inc.
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