Not Going Over the Waterfall After All?
[Cartoon courtesy of Grantland Cartoons]
We're settled in our barrels and ready to accept our doom, and, as luck would have it, the waterfall we've been riding towards has morphed into a placid lake with the sun glinting off it. Could it be true? It's too soon to tell whether the waterfall our economy has turned into is in the process of smoothing out into a peaceful current fit for a pleasant ride. But in the event this miracle has occurred, is your company ready for life outside the-ready-for-a-plummet barrel?
First, many of you will notice a mass exodus of employees you've decided to ask to do everything you've been afraid to ask them until they were an audience held captive by a deathly economy. With new opportunities available, it's payback time. That means leaving with little-to-no notice, and leaving your managers with mountains of unfinished tasks. Since the economic turnaround is probably at least a few months away, it might be a good idea to start your retention efforts now. You still can't afford to pay them as much as you should, but is there anything else you can do to make work life more rewarding? Are they still doing what you hired them to do, or, due to the economy, does their work role now include five to nine to fifteen additional tasks they have no affinity for? With summer approaching, how about recruiting a team of interns to take some of the burden off of them? If your company is based near a college, you could even consider making an intern program a permanent part of your workforce management. To make it the most worthwhile, arrange for placements to be non-paying, and in exchange for academic credit. In addition to being more financially prudent for your company this way, establishing a relationship with colleges is good public relations for your company and provides a vibrant pool of future new hires.
What are your plans for the summer? We hear your CEO is off to Tuscany (the tortuous million dollar pay cut notwithstanding, he still has another multimillion to fall back on), and several of your chief so-and-so's are heading to the South of France and the Greek Isles. For some reason they've decided not to finance vacations for staff, but how about getting out a few hours early on Fridays between Memorial Day and Labor Day? Do you already offer summer hours? If you don't, it's time to get with the (lazy people's) program. Times are tough, but I'm betting your company won't sink or float dependent on whether workers are at the office until 5 p.m. versus 3 p.m. on Fridays for a few months.
Do you have any plans for fun surprises to go along with the return of the sun? Not to sound too primordial, but after a literally and figuratively dark winter, an ice cream social outside might be in order, an old fashioned potluck picnic (at little to no expense to your company), or maybe even a cocktail party outside at an inexpensive location or a pavilion at a public park. If you're smart, you'll find a few low-cost outdoor activities you can tie to leadership development or team building. There are outdoor charities that your workforce can participate in together like beach cleanups and building houses for Habitat for Humanity, but there also are activities you can generate yourself. For an especially low maintenance approach, you could give your instructors the option of holding live classes at an outdoor location anywhere within a 15-minute drive from the office, including the beach. There will be (or should be) an assessment at the end so it's not like learners can get away with not paying attention, no matter who is walking by in a Speedo.
One of the best brain exercises is to teach another person a skill. To exercise your learners' intellects, and help them get to know their co-workers a little better, ask them to pick an outdoor skill, from bike riding to wind surfing, to teach a colleague. They have all summer to do so to each—both teacher and learner—earn an extra vacation day. They just have to show evidence that the lesson took place such as photos or a receipt of some kind.
On a more serious note, what professional skills can one worker teach another as a desirable development opportunity? Do some of your employees speak Spanish while others wish they did? Could you offer bilingual workers a chance to earn a few days of extra vacation time or a gift certificate or two by teaching their colleagues this skill? What other skills do some of your workers know and others lack, but would like to learn to expand their career opportunities? I bet some of your employees are great amateur Website developers and computer graphic artists. Maybe some of them would like to sign up for a brief stint as teachers. In addition to whatever material compensation they are provided with, the biggest lure will be an agreement to add their participation as teachers in this program to their official record with your company, as an achievement that will be looked on favorably for future advancement and as an experience they can put on their resume.
What else are you doing to keep employees even if (or when) the waterfall disappears? If you don't have any fallback plan I suppose you'll have to come up with ways to keep them desperate. I guess you could continuously ask them to take pay cuts until they're so in need of regular pay that when you finally offer them a regular paycheck (following waterfall disappearance), they jump at the chance.
One of the dark things about this financial calamity, and all that your workers have endured, is it won't take much for professional offers to seem like found gold after this. "You mean I, too, can work for a company where hard work is rewarded with higher pay and promotions? No kidding!" you may hear some of your workers remark to themselves when other opportunities open up.
Be conscious of what you're offering employees, both in a time of cornered economic desperation and in a time of financial abundance. However many dollars you can provide them with, you never want to come across or be remembered as a corporate workforce snake oil representative.
If you're not careful, not only will they leave your employ before you're ready. Worse yet, they may have a surprise or two for you at your next bonding event. I think somebody has just volunteered you as the target of a pie throwing contest.
You've prepared your company for the worst. But what about preparations for a better-than-expected outcome to these financial straits? What are you doing as workforce managers to ensure your company cashes in on the eventual economic recovery?
