Economic Rumors in the Workplace: You Can Help Stop the Fear

by Jeri Cartwright
UtahPulse.com  10/16/2008

Do it NOW. Talk to you employees. Tell them how your business has been affected by the current economic situation. Now is the time to head off inaccurate and highly charged rumors with transparent communication. If you do, you will earn loyalty, trust and most importantly, your employees will take the message to their friends and families when they aren't on the clock. This is called community relations...and it works.

This concerns me. In a new survey, released October 13 and commissioned by the Global Communications firm Weber Shandwick, there are some frightening findings. Employees are more concerned than you may realize. From the survey:

  1. 70 percent expect the current economic and financial problems in the U.S. will have a negative impact on the company they work for over the course of the next year.
  2. Of those 70 percent, 26 percent believe their company will have to lay off employees and 62 percent said their company would have trouble meeting its goals.
  3. 71 percent said that their company leadership should be communicating more about current economic problems.
  4. 54 percent have not heard from company leaders AT ALL on the impact of the financial crisis on their company.

The length of any recession is affected by many factors. Many of those are out of our control. But the emotional security of your employees is something you CAN assist with. For the sake of your business health, do it now.


Article originally appeared at UtahPulse.com.

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