In addition, they avoid unnecessary costs. They establish a hiring freeze, offer employees more flexible hours and involve workers in choosing options such as early retirement or a shorter workweek. Successful companies also analyze their product or service to simplify production and marketing costs. Really neat technology is often unnecessary in the mind of the customer. Another important facet in business recovery is to have regular all-hands meetings at which employees participate in the decisionmaking that affects their destinies.
Morale goes up when employees feel needed and essential to the organization.
Successful companies focus on the market and adapt to its changing dynamics. The companies that regain control are the ones that force themselves to notice and be aware of their entire work force's reactions to challenges. Create at least three options. Companies must avoid the two-option approach, such as win or lose, all or nothing, black or white, shut down completely or gear up. The third option is an intelligent compromise between the two polar opposites.