The current situation of the COVID-19 pandemic confronts us with the unknown. Countries like the United States are struggling to contain the virus. Other countries like Israel are in the middle of a second wave after life went a little bit back to normal, while other countries like Germany remain closed, out of fear the situation will deteriorate. What unites us all is uncertainty, fear for our existence and a slumping economy. However, the COVID-19 pandemic is also an incredible opportunity to change things sustainably and set new industrial standards. It gives us the possibility to establish a completely new connection between partners, customers, suppliers and employees. Admitted, it takes courage and it is risky but at least we still have the option to choose the side on which we want to stand:
On one side are the losers. Companies who put their own interest in the center of all their thoughts. These companies often reduced employees’ working hours, sent them on unpaid leave or even fired them. The remaining employees were encouraged to look harder for customers and close deals faster with more aggressive incentives and discounts. These actions created nothing but a flash in the pan. It was quickly shown that no positive long term results could be achieved, the pressure intensified and created an ever greater enemy - Fear and Uncertainty !
They understood that what brought us „here“ will no longer get us „there“ and simply changed their communication, both internally and externally.
On the other side are the winners. Companies that recognized that all market participants are in the same situation. Management, employees, customers and suppliers have the same problems, worries and fears. They understood that what brought us „here“ will no longer get us „there“ and simply changed their communication, both internally and externally. They understood that creating Win-Win situations together with their clients for long term success starts within their own company and doesn’t include focusing only on their own benefit. These companies will increase sales and revenues.
Here are 8 small but extremely effective actions winner companies do to create a spirit of optimism within their company. It showed them already results they never had before, because they started doing things they never did before.
Reduce emotional distance -
If you are still working in home offices, reduce the emotional distance between employees (created by the required physical distance). Call them in the morning via phone or video-meeting instead of checking in with impersonal emails or Whatsapp messages. Listen to what they have to say. Open-minded managers receive much more important information about the situation when employees feel heard. Keep doing it when you go back to the work space.
Trust instead of control -
Inspiration and trust are a much greater motivator for better results than constant controlling. Ask your employees about their upcoming tasks or challenges and how they believe they could get everything done instead of requesting endless status reports, statistics and protocols. Trusting their judgement inspires employees to do more. Employees who feel controlled, tend to show less commitment simply because their come out of fear and the wish to avoid mistakes.
Be transparent and honest -
Communicate openly the current situation and phrase clear goals that must be achieved together. Employees can deal with good and bad news equally but they are afraid of uncertainty. Anyone who feels insecurity will sooner or later block themselves, emotionally and mentally and will not be able to perform well under stress. There's nothing wrong with saying: “we are currently 15% behind break even. $100,000 are missing until the end of the month. Let's put our heads together and see how we can make it!”
Admit uncertainty -
Employees prefer to hear the truth, even when things are not totally clear, than to have a fake “know-it-all” boss. Especially in times of crisis, employees appreciate leaders with human attributes and those are highly valued and followed blindly. There is nothing wrong if managing directors and senior managers do not have answers to all questions. A frank statement like “I don't know now, but I believe in us and I believe that we will find the right answers soon”, generates much more positive energy to solve the problems together.
Save costs, not employees -
Review your entire cost structure and identify what is not absolutely necessary. Cancel subscriptions you carry with you and rarely use or suspend memberships or leasing contracts that are not currently needed. Negotiate with suppliers and partners better conditions by asking how they can help you save costs if you keep working together (instead of cancellation). You would be surprised how much you can save. Cost reduction by lay-offs should always be the last option.
Screen your processes -
Use the time to examine your processes closely. Are they still up to date and how does COVID-19 influence them? Can changes create more efficiency? Engage your team and ask them to make suggestions. Employees are more eager to find better processes when they are involved and feel a part of the decision process. They also accept changes faster because they understand why the changes are necessary.
Invest in the future -
Use the time and invest in your employees with training and further education programs, even if it increases your costs without an immediate impact on rising revenues. Employees who are valued in difficult times feel protected and are much more loyal. They are more committed and dedicated to the company and would be less interested in new job opportunities when the economic situation improves. Experience has shown that employees change jobs 4 times faster when they feel insecure or less protected.
Turn complainers into followers -
Many companies are facing more complaints in these times. Delivery bottlenecks or longer waiting times have become the “COVID”-norm. Take the complaints seriously and explain your situation to the customer. Share with them that, for example, the safety and health of employees is your top priority and processes had to be changed to ensure this. Appeal to the customer’s understanding and ask for a little more patience to take care of the needs of all employees and customers alike.
The moral of the story is simple. Strengthen and empower your employees by giving them your protection and taking away the fears. Build empathy and unite everyone around the same goal. Trust them that they are doing all they can to achieve outstanding results. Valued and trusted employees pass the positive feeling on to your customers while stressed and insecure employees drag you into the abyss. It’s your choice!
If you find my tips valuable but still don't know exactly how implementing them, I’m inviting you to write me an email and you will get a training session free of charge - how to take your specific challenge and form together a path to success. My email is: chris@forty-two.digital