The year 2010 will bring us uncertain times - the stock market is a daily reminder to us that the economy is far from stable! We are advising our clients however that it is important in these uncertain times to pay attention to the people side of their business. You need to be communicating regularly with your staff - tell them as much as you can about the state of your business and what your plans are. If you don't they may make assumptions - and these assumptions may not be correct. They may worry and assume that you are planning to "cut back" and this may motivate them to look for work elsewhere. You certainly don't want your good performers jumping ship especially when you consider what it cost to hire and train them. Don't under estimate the importance of regular staff meetings where you engage your staff in some "straight talk" - telling them in simple language your plans and priorities. Reinforce the importance of confidentiality with your people and then trust that they will respect it. Watch how excited and engaged your people become when you start sharing your business plan.
Stay tuned for other practical advice on the people side of your business.....
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