Prepare for the Recession: Develop Trust on the Team

Prepare for the Recession: Develop Trust on the Team

If the next recession occurs in 2020 as predicted, your company most likely will face tight budgets, pay cuts and layoffs. Bonuses, salary increases and other traditional incentives will be unavailable for your team members. Your team’s morale and loyalty will be tested. You may have to lay off valued members. To combat the ongoing stress and anxiety, you need to build trust on your team. When members trust you, they are more likely to continue giving their all and doing what they can to keep the business going through the recession. Follow these guidelines to build trust on your team.

Openly Communicate

Keep your teammates informed about what is happening within the organization. They will feel less anxious and stressed. Encourage your team members to speak freely about issues, questions and concerns. Show they have some control over what is happening. Allow your team to influence decisions when possible. Use their skills, experience and expertise to save time and reduce errors. Provide support for members who need to look for work elsewhere.

Align With Company Values

When your teammates’ values match your organization’s values, your team will feel less stressed and more satisfied. Ensure they understand what your company’s mission and vision for the future are and how your team members are involved in creating it. Determine how to engage your team in developing and exhibiting company values throughout your department and organization.

Motivate Your Team

Find out what motivates each team member. Look at their language and actions to determine their internal drivers. Understanding where they are coming from helps you to speak their language and help them thrive. Your department will have increased odds of succeeding when members engage in their work.

Remain Consistent

Set and maintain clear, realistic expectations. Promise only what you are positive you can deliver. Use a similar approach when making decisions. Show that choices are made for the appropriate reasons and changed only with a valid reason. Treat all team members the same way to avoid feelings of favoritism. It is easier to have hard discussions when your team feels they are being treated fairly.

Value Each Team Member

Members will perform their best when they are regularly encouraged and thanked for their contributions. Along with verbal thanks, provide teammates with thank-you cards and small gifts of appreciation. Encourage team members, managers and executives to praise your team for their output as well.

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