E-THOUGHT FOR THURSDAY SEPTEMBER 3, 2009

Good day fellow vending enthusiasts,

Times are tough. Cash is short. Unemployment is rising. You can just sit back in your office and expect more from your workers, knowing they are grateful to have a job and won’t complain. Right?

Wrong.

Now, more than ever, businesses need to make sure their employees know they are appreciated. And there are ways to do that even as companies are freezing pay, cutting hours, laying people off and watching every dime.

Business owners and executives need to think about it. You can’t just go ask people to work twice as hard without rewarding them.

Most companies are feeling pessimistic about 2009, with 72 percent of companies nationwide expecting business to decline in 2009, according to a survey conducted at the end of last year by Mercer, a human resources consulting firm. The same survey found that 35 percent of companies expect to reduce their work force this year.

Even those workers who keep their jobs will likely feel the effects of a slower business environment, with 73 percent of companies reducing salary increases and 12 percent of companies freezing wages at 2008 levels, according to the same survey.

A survey conducted by another independent HR consulting firm last month found that 32 percent of companies cut staff in the fourth quarter of 2008, with 21 percent of companies anticipating job cuts during the first quarter.

And this is weighing heavily on employees. More than one-third of employees are concerned about the health of their company and their job security. This anxiety can lead to a decline in productivity and engagement at a time when companies need their best performance.

Employees really need to know that you appreciate them and are grateful for their continued support of your company.

This can be even more important if a company has experienced layoffs, since the remaining employees often feel what experts refer to as “survivor’s guilt.” These workers worry about how secure their jobs are, mourn their now-absent co-workers and need to know that someone cares about their concerns and feelings.

Taking that extra step now, when times are tough, may help keep employees loyal and with your business when the economy — and the job market —does pick back up.

But while you as a company may not be able to spend thousands, or even hundreds, of dollars on company outings, employee bonuses or company perks, there are still simple, inexpensive or even free things that bosses can do to make their workers feel appreciated and to help ease the anxiety during the stressful times.

Visibility is key

One of the biggest things you as an owner or company executive can do to help build morale is to make yourself more visible.

What employees need to see is that whoever is running things, be that the boss or the owner or the senior partner, is available and accessible,

Walk around and talk with employees. Ask them about the work they are doing, their families, their clients. If employees regularly eat lunch in a break room, consider joining them every now and then. Most importantly, address their questions and concerns as openly and honestly as you can.

Whatever the economic status is of your company, I would hope that you realize that every member of your team is playing a integral part in keeping you in business. Employees understand that the economy is in dire straights right now and most are grateful for the opportunity to come to work everyday.

Regards
Curt Wokal