Balancing a possible recession with the talent retention needed to survive.
What do these mean for your employee experience? A projected recession, months of worry around inflation, possible layoffs, and an unpredictable workforce fluctuation. It hasn’t been easy to focus over the last few days. Especially with the recent massive layoffs in big tech, we thought it was most important to pop out here and say: talk to your employees.
Fundamentally, communicating clearly and transparently with your employees is essential.
Your people are integral — to you, to your company. Let them know. React to the headlines with them. Create an open forum, remind everyone of the benefits you offer, and meet each other where you currently are. The Society of HR Management offered thoughts about how HR can get ahead of a recession, which has implications for talent retention and benefits.
We are not here to judge, running a business is no easy feat!
We are here to share that there is a marathon option to invest in—and that is listening to and investing in your people. A recent HR Brew article, “The unlikely key to surviving the recession: Keep your people,” shared the thinking that “investing in employees might just be the smartest way to become recession proof.”
Observing your employee experience
It could help you to step back and observe your current employee experience, your communications, and employee engagement. It all adds up to how you connect and act every day with your people. And what it means for this moment.
- Is your employee experience connected across and between company functions?
- Are your communications human-centered and data-driven?
- Is your engagement in-tune with the present needs?
- Is your planning and focus proactive based on where the future is headed?
Integral is here for you
With all that said, Integral is here to lend an ear and support leaders lean into the formula of purpose-filled business and organizational goals. When you achieve alignment of business purpose to people’s engagement you unlock what is integral — to you and your company. Back during the pandemic, John Buchholz wrote a blog post outlining five steps to communicating tough decisions effectively and compassionately. Those are still true: Embrace hard questions. Words matter. Prepare executives for empathy.
Even then, projected layoffs may be a cause for concern. Layoffs may need to be made, but at least your people will know that you’ve given intention and purpose a fair shot.
Employees will never forget how leaders communicate with them during difficult times. The employee experience you create–-especially in tough times—can help you and your employees get through those tough times.