Surviving a Business Slowdown
Submitted by Trish Brydon CGA, MA on behalf of Robert Half Management Resources,
Vancouver. Trish may be reached at 604-688-6393 / trish.brydon@roberthalfmr.com
A slowdown in business can affect more than just the bottom line. Employee
morale and productivity may suffer as well. However, by focusing on what management
and staff can work together to do in a lull, it can actually be a more productive and
positive time for your company. It’s a chance to do some extra team building and
motivating that can inspire employees to help the firm improve its prospects. The key is
to turn feelings of helplessness into a shared sense of purpose.
Don’t panic. A drop-off in sales, whether gradual or precipitous, is always a concern for
executives, but it can also make employees at all levels anxious about their futures. As a
manager, it’s your job to reassure your staff that there are always ups and downs in
business, and during such times it’s critical for everyone to pull together. Even if the
company is only a few years old, chances are this isn’t the first time it has hit a bump in
the road. To put things in perspective, review the firm’s history, focusing on the times
when everyone worked as a team to overcome obstacles.
Share ideas and information. What happened the last time business was slow? How
did the company turn things around? What can be learned from that experience and
applied to the present situation? Discuss these questions at a general staff meeting or
smaller brainstorming sessions within each department. One proven way to lessen
anxiety among employees is to involve them in the process of finding solutions and
strategies. Talking openly about the slowdown can help people feel that they have some
measure of control over what’s happening.
A business drop-off is one instance when “no news is not good news.” If staff
meetings aren’t a feasible option for your firm, it’s still important to communicate
regularly with your workers. Keeping people in the dark will only make them more
worried. Share as much information as you possibly can.
Make sure your messages are honest and accurate. Emphasize what staff
members can do to help the company pull through. No matter what a person’s role in the
company, he or she can have a meaningful impact. Encourage people to think about their
own jobs and how they might do them more efficiently.
Focus on actions, not moods. If you notice that your staff seems unmotivated, the cure is
to encourage them to take action. For example, your company may be trying to cut
expenses. Ask your employees to think about things they could do to help achieve this
goal without sacrificing productivity. You may be pleased to discover how resourceful
your workers are.
Depending on their positions, consider involving employees in generating new
business. This can mean “growing” relationships with existing clients as well as
identifying and pursuing new prospects.
During a slowdown, it’s important to focus even harder on current client or
customer relationships. Let your employees know that excellent service is now more
crucial than ever. They may want to lavish extra time and attention on existing
customers. This can be as simple as sending brief thank-you notes or making follow-up
calls to new customers to make sure they’re satisfied with the company’s product or
service. Encourage your employees to develop other ways to enhance customer or client
service.
Keep morale up. During a slowdown, it’s important to foster an extra measure of
teamwork and unity. This can be accomplished on even the slimmest of budgets. Lowcost morale boosters — such as an onsite potluck, cookies on a Friday afternoon, a
departmental bowling trip after hours or bagels at the weekly staff meeting — go a long
way toward helping your employees feel their efforts are appreciated.
Don’t overlook the smaller gestures, either. In stressful times, a public, heartfelt
“thank you” to staff members who continue to do their jobs well can mean more than a
formal recognition banquet.
By taking the steps outlined above, you can reassure employees during a business
slowdown and gain their cooperation in helping you get your company back on track.
Founded in 1948, Robert Half International Inc. (RHI) is the world’s leader in specialized consulting and
staffing services. The company’s financial staffing divisions include Robert Half Finance & Accounting,
Accountemps and Robert Half Management Resources, for full-time, temporary and senior-level project
professionals, respectively. Call 1-800-803-8367 to reach the nearest RHI branch office or visit
www.rhi.com.