Flexibility During An Economic Crisis

Some of the best advice I've seen for employers during this economic crisis is the need to immediately become flexible.

It's not as easy for large, entrenched companies as it is for smaller companies used to moving and changing rapidly.

But businesses that have adopted flex-options have saved real money by redistributing willing workers’ time. They’ve seen:

• Increases in both worker and client satisfaction;
• Retention of well-trained and productive employees; and
  
• An increase in employee morale.
  

Flexibility means creating a cohesive relationship between you and your employees. Before doing a knee-jerk reaction (eliminating jobs altogether), consider what alternatives are available. After all, when the economy rebounds eventually, you're going to need your best employees to help lead the way. Hiring a bunch of new employees when business picks up will not result in proportionately great results.

Consider, the following - as suggested by Dr. Malcolm Smith in the New Hampshire Business Review:

• Flexible hours that allow workers to get their job done and still have time for family and personal life needs;
• A compressed workweek that enables employees to work allotted hours over fewer days;
• Flexible leave, which allows for paid time off to care for children or aging parents, personal illness, personal issues and parental leave for birth, adoption or care of a foster child (this is required for all businesses in California and businesses with more than 50 employees nationally); and
  
• Flexible career-planning, which allows for phased–out retirement, as well as professional-development leaves and sabbaticals.

Most importantly - make sure to communicate frequently with your employees on your intentions - get their input. You'll be surprised what happens when everyone works together.