Rebuilding Trust in a Recovering Economy

The economy is recovering. Companies are hiring again. As budget planning and performance review processes begin for 2011, company leaders are also restoring wage increases and other programs.

My question is, how are companies planning on restoring or restarting programs? Are they reinstating old programs as they existed before the recession? Are they evaluating potential changes? Are they looking to get away with as little as possible or truly working to restore trust with a very demoralized workforce?

These questions matter. Current employees are near the end of their rope, having stepped into additional roles and responsibilities for many months now. With new research from Gallup finding causation that engaged employees create financial success, not the other way around, companies must wake up to the realization putting employees first is the best way to increase the quality of product and service, customer satisfaction and, ultimately, bottom-line results.

Restoring or starting such programs that convey to employees your appreciation of them and their efforts must not be haphazard, however. Careful thought and planning must go into them. I would counsel to “begin with the end in mind,” but as Steve Boese recently pointed out in his HR Technology:

“I can't stand 'Begin with the end in mind' because too often people and organizations translate 'in mind' to 'completely and totally figured out, with any deviation from the end, to be considered unacceptable, and quite possibly an abject failure.'

“When you think about how many projects or initiatives in the organization, both ones that are successful and complete positively, and ones that crash and burn,  don't end up looking much at all like how you thought they would when you set out, it seems to me that worrying so much about precisely defining 'the end', is often wasted effort.”

But you certainly can’t err too far to the other side, as a recent query in HR Toolbox illustrated:

“I designed an employee survey, the results are in and I am in the process of analyzing them. … How do you analyze the results of your employee survey?”

That left me shaking my head. How do you design a survey if you don’t know how you plan to analyze the results? If you don’t even know what you’re looking find?

If you’re in a position of needing to restore trust with your employees, possibly by restarting compensation or recognition efforts stalled by the recession, keep these steps in mind:

1)  Talk with your employees – Hold real conversations in which you listen more than you speak. Acknowledge trepidations they may have after, then ask them how they’re feeling.

2)  Show sincere, specific appreciation often – Remind employees, frequently, that you do appreciate them and their efforts. Give the power of appreciation to others as well.

3)  Look for the trends – Track where recognition is happening, and where it is not. Intervene in low recognition areas to either encourage more recognition or train to improve skills and outcomes.

Now is a critical time in the planning cycles of many companies for budgets or reviews or both. Be sure to consider carefully how your employees may be faring and never forget, they are the ones powering your financial success.

Derek Irvine is Vice President of Client Strategy and Consulting for Globoforce, helping global companies set a higher ambition for global strategic employee recognition by leading workshops, strategy meetings and industry sessions around the world. Along with Globoforce CEO, Eric Mosley, Derek recently authored “Winning with a Culture of Recognition: Recognition Strategies at the World’s Most Admired Companies,” available through Amazon.com. Follow Derek on Twitter at @globoforce.

Comments

[Laura Schroeder]

Great post, Derek. I would add that although talking to your employees is critical right now, action is also in order to combat skepticism. For example, ask people what they want to work on or are interested in learning and giving them opportunities to take on new roles and responsibilities. Helping employees make career strides within the same company, or giving them new challenges, will help keep them interested in their work and demonstrate the positive intent behind the words.

[Derek Irvine, Globoforce]

Important point, Laura. Words with action are meaningless and empty.