Why Should Your Employees Like You?
Employee Relationships in a Recession
But the recession won’t last forever and those companies that survive recessions are the ones that continue to focus on developing high performers and keeping people engaged, Murphy says. “The best way to win in a recession is to keep employees’ chins up.”
Murphy’s research shows about 70 percent of companies that make positive progress during a recession will continue those gains after the recession is over. The organizations that suffer during a recession “often maintain that suffering for a great deal of time after the recession is over,” he says, frequently due to increased turnover rates when the job market improves. “A recession shakes things up in the marketplace and offers an opportunity to take market share. What if you’re the one company that’s able to motivate employees and keep them going while your competitors’ employees are frozen in fear? This is your chance to win.”
