It has produced a whole generation of employees who don t wait around for the ax they bolt. Do the work of balancing difficult conflicting interests. Murray MacFarlane , Founder of Nascent Consulting Services, of Toronto, Canada, makes the important point that during a downturn you have a tough balancing act. Communicate what s really happening to your employees . If you don t talk to them eye to eye, they ll assume the worst.
Communication is the key.
One department head of a large corporation, who prefers not to be identified, says that management doesn t come out of their offices during downturns, and employees don t know anything about what s going on. The wiser course is to share good news and bad. You have time now reinvent your organization , work on infrastructure and long-term planning. That s what s happened in business. The downturn in the economy is not just about bad numbers it s about sloppy work and ragged processes.