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Stress from a Volatile Economy

Employees in even the best run practices are feeling the stresses of our volatile economy.

by Kent R. Davies
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Employees in even the best run practices are feeling the stresses of our volatile economy. Financial worries and concerns over job security are distracting employees from doing their best work and confidently serving their nervous clients. This crisis is affecting the ability of executives at the highest levels, and their managers, to maintain productivity and morale as they are being overwhelmed with questions about the fate of the organization, retirement benefits and job security. The potentially destructive rumor mill is running rampant and creating a counterproductive life of its own. On top of all this, management is having a hard enough time dealing with their own personal/professional stresses and doing their ever more complicated job.

Experts are recommending that management:

  • Keep an open door policy
  • Maintain as normal a routine as possible as employees are looking to all levels of management for clues on how to act
  • Motivate employees to concentrate on keeping customers satisfied as the most effective way to keep their jobs
  • Be as candid as possible about the organization's prospects with regular, factual and forthright communications
  • Give frequent updates to suppress destructive rumors
  • Be factual about any layoffs V facts trump rumors
  • Allow employees regular opportunities to express their concerns
  • Understand that employees may not be able to always give 100 percent to their job duties as personal financial/emotional issues occupy some of their time
  • Use expert help and support services such as Employee Assistance Programs as necessary

National experts were interviewed for this piece