There has been a great deal of news, most of it bad, about the faltering economy in the last few months. This will probably be the case for some time to come. So what can owners and business leaders do to help calm their employees. In fact, we now have evidence that communication positively effects the bottom line. You can get more information by reading the results of a study by Evonne Dunn, Senior Communication Consultant with Watson Wyatt . The biggest thing that they can do is to maintain open communication or transparency with everyone. Most importantly leaders should keep open communication with their management team and employees but it should not stop there. A policy of transparency will go a long way with your vendors, bankers and customers as well.
An example of the benefits of communication in difficult times can be seen in how the President-Elect has been maintaining contact with the American public. He is using the Internet to “connect” with us and he and his staff are doing a great job of keeping us informed about what he is doing and thinking. He is also conveying a sense that he is truly interested in our views. This allows us to feel less frightened and alienated. It creates a sense of “we are all in this together”.
I recently received an email from the Office of the President-Elect which contained a memo that details the contacts he and his staff have had with Governor Blagojevich and his staff in hopes of clarifying what was an was not said to the Governor’s staff. It is available at Change.gov. Whether or not you believe it or agree with it, it demonstrates the importance of making people feel listened to and keeping them informed. This can only help to ease the fears and insecurities of your staff.
Oh and by the way, when asked, your employees may even have some great ideas that you have not thought of for improving your business.
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