How to Be a Great Leader in a Less Than Perfect Economy

A recession can cause stress for everyone, but especially managers and leaders. Part of navigating economic changes is becoming familiar with change managment. There are ways to build rapport and trust with your staff even in uncertain times. Today we will cover how you can lead your team with integrity as your company builds loyalty even during unpredictable periods.

focus on relationship

While it is easy to buckle down and expect more from employees during difficult times, it’s important to remember to lead with empathy. Be clear with expectations of your employees and don’t leave them wondering if you need to make changes or ask them to take on more because of cut backs. Ask them (this can be done anonomously through surveys) how they are experiecing their role and continue to appreciate them when they are doing a great job. According to the Harvard Business Review, happy employees have even raised sales by 37% and productivity by 31%! No matter what challenge you are facing, focusing on being a great leader and treating employees well pays off in the long run.

give them space to thrive

Reaching for control of the proverbial wheel is a natural response when things feel uncertain. However, overstepping into your employee’s work can have damaging effects. If you want to improve processes or are looking for ways to change the budget, include your employees in the conversation when it makes sense to. They may have solutions that will surprise you and save money. Also, trust them to do their jobs and allow them to mantain the freedom to perform well. Encrouching on their space because you feel nervous about the future is something they can usually feel and often it sends the message that you don’t think they are up to the task. Remember why you hired them and allow them to continue to do good work.

Be proactive not reactive

Finally, if you are feeling pressure because of the economy, don’t panic. Becoming reactive to situations and people can escelate things uneccessarily. Take time to think through strategic decisions and don’t be afraid to ask trusted, knowledgable business partners for advice. If you find yourself needing to produce more under a deadline, do what you can to create a calm, peaceful enviroment for employees even as the pace ebbs and flows. When you are peaceful on the inside, you set the tone for others and can make cleaer, better decisions.

Experiencing changes?

Source One is here to help you with all of your HR needs! We have been in the light industrial space with leaders just like you for years. Our experience and expertise can help guide you through even the toughest challenges. You don’t have make hard decisions alone. We offer HR consulting and a host of services to make managing your team easier and more efficient than ever. If you need creative staffing solutions to save money or someone to bounce your management questions off of, we’re just a phone call away. Contact us today!