Pandemic Leadership: Taking Care of Your Employees
Hi there,
Managing a business is difficult enough in normal economic times. Adding a global pandemic into the mix only makes things worse. Over the past two years, COVID-19 has forced businesses to change and adapt in new ways. How business leaders respond to these changes now will impact impact their businesses long after the pandemic ends.
A business that survives hard times is one employees can confidently place their trust in. Here are some tips on how to gain trust from your stakeholders:
- Prioritize health. Review your sick leave program and offer paid hours where you can. This protects all your employees by stopping the spread of illnesses at work.
- Improve communication. Keep all employees in the loop about the state of your business. Transparency improves trust and helps everyone stay connected.
- Encourage feedback. Your employees are the most qualified people to make suggestions about company improvement. Consider sending out surveys or meeting one-on-one.
- Create emergency plans. If you don't already have one, create a back-up plan for how business will continue in a crisis situation (cash flow shortage, operational changes, etc.).
- Put people first. When funds start to run out, explore several ways to cut costs before you turn to letting employees go.
For small businesses, your employees are your biggest asset. By taking care of the people who keep your business moving forward, you will foster a loyal community that doesn't bolt at the first sign of trouble.
Thank you,
Daniel Eke
Factor Funding Co.
