Monday, March 30, 2009
[IWS] Towers Perrin: 10 TIPS to MANAGE CHANGE in UNCERTAIN TIMES [March 2009]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Towers Perrin
March 2009
Ten Tips to Help Your Employees Manage Change in Uncertain Times
http://www.towersperrin.com/tp/showdctmdoc.jsp?country=usa&url=Master_Brand_2/USA/News/Spotlights/2009/March/2009_03_19_spotlight_ten_tips.htm
If your company is like most, the financial crisis has affected it in a variety of ways new strategies, postponed projects, ongoing cutbacks. What can leaders do to get their employees through this challenging time?
Here are 10 ways to keep your workforce engaged during the downturn:
* Clarify your strategy and vision for dealing with the economic uncertainty. Developing a strategy and vision will help you communicate goals and priorities to employees, who look to leadership in times of crisis. It will also improve managers' and employees' abilities to make the right decisions in their day-to-day work.
* Reinforce your strategy and vision in every employee meeting. Everyone from C-suite executives to rank-and-file employees makes decisions every day. However, they'll only align their priorities with the organization's strategy if they're as clear about it as you are.
* Establish a Web site where employees can learn what your company is doing and what your competitors are doing to manage the crisis. Transparency is always preferred by employees, but now it's critical. To build trust, ensure your workforce has easy access to the knowledge it needs to deal with the current situation.
* Send a weekly e-mail update with successes and challenges. Employees respect when leadership is candid, and by communicating with your people, you'll help them gain confidence in the organization's future.
* Meet with groups of employees to listen to their concerns and solicit their suggestions. Employees who are involved in addressing challenges know that the company values their concerns and opinions. Town hall-style meetings are a great way for leaders to gather firsthand information that might not surface among their peers in a boardroom.
* Ask teams to develop their own plans for improving quality, pleasing customers and reducing costs. Harness your employees' energy and act on appropriate suggestions. Send a clear signal: Your people and their ideas are always valued, regardless of the economic environment.
* Realign performance goals based on new market realities. If you've changed your business strategy, let your employees know their goals may need to change as well. Articulate the new strategy and why flexibility is important.
* Make sure people know how the business uncertainty will affect rewards. Tell employees as soon as possible if their total rewards package will be changing. Your workforce would rather know what to expect, even if the news is less than desirable. No one likes surprises.
* Challenge people to cross-train and learn new jobs. Employees can add value for themselves and the organization by acquiring new skills. Those who adapt may fare better during a restructuring, and will appreciate the opportunity to expand their skills.
* Share key performance indicators with every employee. This is especially important if your key measures have changed to battle the economic crisis. Communicating this information will also help people understand how their role contributes to the company's goals.
By communicating your plan and keeping senior leaders front and center during times of economic uncertainty, you can keep your workforce engagement levels high and implement the necessary strategic changes to ensure the long-term success of your business.
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Towers Perrin
March 2009
Ten Tips to Help Your Employees Manage Change in Uncertain Times
http://www.towersperrin.com/tp/showdctmdoc.jsp?country=usa&url=Master_Brand_2/USA/News/Spotlights/2009/March/2009_03_19_spotlight_ten_tips.htm
If your company is like most, the financial crisis has affected it in a variety of ways new strategies, postponed projects, ongoing cutbacks. What can leaders do to get their employees through this challenging time?
Here are 10 ways to keep your workforce engaged during the downturn:
* Clarify your strategy and vision for dealing with the economic uncertainty. Developing a strategy and vision will help you communicate goals and priorities to employees, who look to leadership in times of crisis. It will also improve managers' and employees' abilities to make the right decisions in their day-to-day work.
* Reinforce your strategy and vision in every employee meeting. Everyone from C-suite executives to rank-and-file employees makes decisions every day. However, they'll only align their priorities with the organization's strategy if they're as clear about it as you are.
* Establish a Web site where employees can learn what your company is doing and what your competitors are doing to manage the crisis. Transparency is always preferred by employees, but now it's critical. To build trust, ensure your workforce has easy access to the knowledge it needs to deal with the current situation.
* Send a weekly e-mail update with successes and challenges. Employees respect when leadership is candid, and by communicating with your people, you'll help them gain confidence in the organization's future.
* Meet with groups of employees to listen to their concerns and solicit their suggestions. Employees who are involved in addressing challenges know that the company values their concerns and opinions. Town hall-style meetings are a great way for leaders to gather firsthand information that might not surface among their peers in a boardroom.
* Ask teams to develop their own plans for improving quality, pleasing customers and reducing costs. Harness your employees' energy and act on appropriate suggestions. Send a clear signal: Your people and their ideas are always valued, regardless of the economic environment.
* Realign performance goals based on new market realities. If you've changed your business strategy, let your employees know their goals may need to change as well. Articulate the new strategy and why flexibility is important.
* Make sure people know how the business uncertainty will affect rewards. Tell employees as soon as possible if their total rewards package will be changing. Your workforce would rather know what to expect, even if the news is less than desirable. No one likes surprises.
* Challenge people to cross-train and learn new jobs. Employees can add value for themselves and the organization by acquiring new skills. Those who adapt may fare better during a restructuring, and will appreciate the opportunity to expand their skills.
* Share key performance indicators with every employee. This is especially important if your key measures have changed to battle the economic crisis. Communicating this information will also help people understand how their role contributes to the company's goals.
By communicating your plan and keeping senior leaders front and center during times of economic uncertainty, you can keep your workforce engagement levels high and implement the necessary strategic changes to ensure the long-term success of your business.
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 6:07 AM
