FINWIRE®

Avoid the Global Crisis, Invest in Your Staff

May 22nd, 2009

With Businesses feeling the effects of the Financial Global Crisis, Managing Director of Interactive Events Pty Ltd, Mike Symonds, believes that the businesses who will suffer the most are the ones who don’t value their staff.

Speaking with many of his clients, Mike has noticed a major difference between the businesses that are growing and those that are downsizing.

Mike says the businesses that are downsizing are focusing on ‘Surviving’, while the businesses that are growing are focusing on ‘Thriving’.

“Businesses in the ‘survival’ mode are dramatically reducing staff numbers, reducing marketing activities, cutting down on training, working their staff hard and giving them little chance to celebrate, connect and enjoy.

This kind of approach is creating an unhealthy environment. The staff they do have are totally ineffective because they are scared. They’re scared of losing their jobs.

On the other hand, some of these people are doing the work of 3 people. How is that being effective?”

Mike says that the businesses that are ‘Thriving’ are working with their staff.

They have used their staff to identify new business opportunities, they have taken time to get to know their staff’s strengths and passions and use those within the business, they are still providing opportunities for staff to celebrate, socialise and interact.

Many businesses in the recruitment industry are placing more of a focus on outplacement training. Some businesses are creating flexible work options. The successful businesses are the ones that are working with their staff and investing in their wellbeing.

“It is not that hard to invest in your staff. You don’t need to spend thousands of dollars or a whole day away from the office. We find that the successful businesses are the ones who incorporate fun, interaction and energy into every part of their business.

5 minutes of fun to kick off a team meeting, little surprises during the middle of the week or simply ask your staff for their ideas on how you can grow the business. It doesn’t have to be big and it doesn’t have to cost you a lot.”

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