Financial crisis and communicating internally in India

The recent financial slowdown has spawned many interpretations of how and why to communicate with employees.

 

I feel India and its economy presents exciting opportunities for organizations and leadership to connect with employees.

 

Research indicates employees are expecting more communication on the turn of events and how it impacts their jobs and lives. While it might not be possible to have all the answers, it makes sense for leaders to share personal perspectives and relate to experiences they have been through.

 

I have been quizzing my peers in the industry in India and the word I am hearing is that organizations are so caught up in mitigating their risks that they are losing sight of their employees’ concerns and expectations. The recent Jet Airways episode where one of India’s leading airline removed and reinstated employees within a few days increased more fears of layoffs among corporate sector employees.

 

Here are my recommendations to help organizations plan and enable employees to cope with the crisis and implications.

 

a)     Stick to the basics – keep the face-to-face meetings, engagements occurring regularly. Job security and impact on family/image are always top of mind for this part of the world.

b)     Involve employees in decisions – invite open recommendations from employees on how to mitigate the current crisis

c)      Provide counseling services – If your organization hasn’t already engaged with an agency, it is probably time. How your employees handles the crisis has not just an impact on the organization’s health but their own.

d)     Pre-empt rumors – Keep a tab on your informal feedback vehicles and monitor water cooler discussions where distorted messages may be passed around

e)     Leaders in the forefront – Are your leaders taking a stand? Are they willing to be the first to take a hit if push comes to shove with salaries and reduction of expenses? There is an interesting article in the Times of India (October 21) of Wipro’s Premji requesting its employees to look at the downturn as a positive step.