The last decade was indeed a golden period for the world economy, where salaries kept multiplying and luxury was not a distant dream. With the sudden economic slow down, things have changed. What remains today is a super aspirational generation, full of 12 hour workers who have acquired more in life than they ever saw their parents with, and are willing to work harder. But the fact remains that none would ever account for this downturn in the economy; we are all caught off guard in the true sense of the word.
Most national and multinational firms are laying off employees in large numbers, till just three months back we were all planning the next property we would buy or the latest car that was going to hit the market. But things have changed overnight. At this point, everyone is just holding on to their jobs.
At this moment, this is sentiment echoed by most people in the corporate world.
Communication plays a vital role at this stage. With companies looking to lay-off any extra hands that they might have or ‘think’ they have, it is important to keep the bosses aware of how important and vital you are to the functioning of the department.
Quoting an example, head of collections department (Mr.X) in a multi national bank in Mumbai, India adds, only yesterday, his boss was trying to hint at the merger of the department of collections (head Mr.X) with another department. Now, if that happens X will definitely be without a job because they cant have two people heading the same department. That is when X pulled out the excel sheets and numbers and highlighted the fact that his department has been the best performing department in India for the past two months. Now, X has consciously decided to keep talking to all the top bosses about how well his department is doing and how much it is contributing to the banks growth and profits. After all, it is not just about his job, but the job of about 30 people in his department too.
During such trying times, it is very important that you keep all communication channels open. The more the transparent the better it is for the employee as well as the employer. Therefore, this should be a two way deal. In other words, while as an employee you should make yourself audible to the management, the management on the other hand, should also keep the employees updated with the latest developments.
Thanks to the recession and the number of jobs that are being lost around, most people are over stressed. In such times, it is also the responsibility of the bosses to keep communication open and keep employees updated about the current state of affairs.
Very often rumors regarding lay-offs start making the rounds. Although untrue, they wreak havoc in the minds of people. During such times, bosses should step in and ensure that there is absolute clarity by clear communication.
The recession is here to stay at least for sometimes time. So it is best to avoid unnecessary stress and keep all lines of communication open. Rather than indulging in unwarranted talks and creating chaos, it’s better to try and extend comfort to those who might be stressed about the times to come.