Motivation In Times of Bankruptcy

We have been through the world economic crisis and many have learned to get over from their fall while other businesses are still constantly trying their best to be back on track. During these hard times, the stressed workforce are starting into their job hunting skills scouring around for greener pastures. As employee turn over had started to become an issue, additional costs of having delayed work for vacated positions and the loss of skilled, trained and experienced employees are gradually incurred by the company. If ever new ones come in, costs of giving them the orientation and training needed will still be there. So how can management motivate their employees to prevent them from moving to more stable companies and avoid additional costs?

The answer lies in trying to be the best company around who cares most for their employees. The catch here is, even if they could indeed find a better offer somewhere else, they would not have the benefits that make them feel more attached and cared for by an employer. A company then, can provide employee wellness and assistance programs. An idea would be providing counseling for emotional stress, family discord, and alcohol abuse. This will both improve willingness to stay with the organization and at the same time, help develop their overall performance by alleviating some of their personal issues. Effective communication can also sooth employees' anxieties by informing them updates on the company's financial condition, as well as modifications done on policies and procedures.

It would also be helpful if management then becomes more sensitive to personnel needs by conducting attitude surveys to figure out employee concerns and carry out relevant programs which can deal with the most indicated issues. Other efforts to reduce turnovers include the help of motivational speakers during group sessions and recognition programs to concurrently enhance retention and performance. Those given recognition awards would then serve as role models for other employees. In addition, a suggestion-box or link on the company website could also be made available for everyone to share their ideas on the most beneficial and practical means of bettering quality, marketing strategies, customer satisfaction, outsourcing opportunities and in employing cost cutting programs.