While the pandemic put even the strongest business leaders to the test, many argue that further challenges still await leaders – with the Bank of England predicting the longest UK recession in 100 years.
Mike Morini, CEO at WorkForce Software, explains how to keep employees engaged during a recession and gives his insights for leaders to navigate these challenging times.
“There’s value in making tough decisions, which often make it easier to identify tangible growth opportunities versus short-term ‘nice to haves’,” Morini says. “Refining strategy and priorities to yield better long-term results must be carefully managed and communicated.”
Morini shares he believes it all comes back to transparent communication alongside rewards and recognition for key staff when the time is right.
He adds, “From my experience, striking a balance between empathetic and decisive leadership will build staff trust and confidence that lasts way beyond the turbulence that may lie ahead.”