Intelligent CXO Issue 21 | Page 42

FEATURE energy prices can take its toll on stress levels and mental health .
To keep team morale up , offer an Employee Assistance Programme ( EAP ). This gives your employees access to 24 / 7 , confidential support from trained counsellors on anything from relationship struggles to financial issues . An investment in them is an investment in your business .
You might also be able to offer some additional days off or more flexible working hours , without too much expense . Little gestures can go a long way in acknowledging that work-life balance has never been more important .
3 . Upskill your staff
And so , they will appreciate any effort you put into keeping the lines of communication clear and open ; this could look like scheduling regular get-togethers to update everyone on performance together . Here ’ s how you can lay out how you will tackle the upcoming challenges .
Set up an employee forum so your teams can have a say , ask questions that are on their minds and even make some cost-saving suggestions . Sometimes the greatest ideas come from places you ’ d least expect .
Long term , people want to see an investment in their growth and development from their employer . Your business is only ever as strong as your team . So , keeping your people ’ s skills fresh with bespoke , interactive training is a great way to not only invest in them and prove your commitment to their development but make sure they ’ re up to speed and performing in line with your needs .
4 . Put your process under the microscope
When it comes to providing a great service or product , continuity is king . But in difficult times , it ’ s always a good idea to look at your internal processes and procedures and see if anything could do with a switch-up . The only way you can solidly future-proof your business is by strengthening what ’ s already going well and making changes to anything that ’ s not serving you .
Additionally , if you do need to introduce costcutting measures that affect your staff , like a pay freeze , explain to them why you ’ ve come to this decision and that you ’ ll keep it under review . Honest conversations help stop resentment in its tracks .
2 . Boost morale with small – but important – gestures
It ’ s easy to lose sight of the bigger picture when you ’ re battling an economic downturn . Keeping your business afloat is , naturally , your top priority .
However , don ’ t forget that this is happening to your staff too . Struggling against rising food and
Those alterations could include keeping office bills as low as possible by increasing working from home days and reducing HR costs by boosting employee retention . Additionally , making a section of your business even stronger to withstand the storm and keeping on top of all internal processes such as lateness and dealing with them head-on . Finally , ensure that the best practices are followed , such as performance reviews every six months .
5 . Sensitively weigh up staff levels vs demand
No one likes to think about redundancy . But if you need to cut costs – especially if demand is low – then it can make sense to consider making
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