Retaining Employees in a Down Economy

Retaining employees in a down economy is simple but not easy. This article will show you three quick but sure-fire strategies that will help you to keep your employees happy and motivated.


Recently a business owner complained to me about the economic downturn and the effect that it was having on his business generally and his staff particularly. One key area in which a bad economy rears its ugly head is the restlessness of employees and key staff. It made me recall another story I heard about an employee who jumped ship after nearly twenty years in one place! While business owners and managers may not be able (or want!) to keep every staff member from exiting their employ, there are a few strategies that you can enact that will tip the odds of keeping them in your favor.

First, communicate. One of the biggest complaints among employees is lack of communication by their superiors to them. It is astonishing that, with all the communication tools at our disposal, we seem to be communicating less and less. Keeping open lines of communication with your key staff members is imperative. Conduct regular (but brief!) staff meetings, as well as, schedule individual meetings. Make sure you have face time with them and not just contact via email, the web or telephone. Nothing replaces sitting in front of another person to really understand what they are saying. Since communication is only 7% verbal, it’s imperative that you have regular, person to person, human interaction with them. When you ask them how they are doing, listen, really listen to them. They will know that you care and that goes a long way in building loyalty.

Don’t ever make assumptions either. Don’t assume that your employee’s know what you expect, know what you think or know how you want a specific task completed. Tell them, in precise detail what you want from them. Don’t leave anything to chance. You might be surprised how well they perform when you are clear about your desired outcomes.

The second strategy is educate. It seems that many companies are opting for distance or computer training rather than putting the employees in a room with a professional facilitator. I know that it keeps the price down but what is it costing in terms of team building and experiential learning? Companies that regularly choose webinars or teleconferences over actual training are doing a disservice to themselves and to their employees. Create an environment of learning and personal growth for your employees. Regularly scheduled trainings show that you are investing in them and that you want them to grow and develop. What happens if you invest in training them and then they leave? There’s no simple answer. However, don’t let that be the reason to stop you from investing in education for your employees. When you do, they will be better and thus so will your company for whatever time they are with you.

The third strategy while under utilized should not be underestimated. It is appreciate. When I get to this strategy in seminars there is usually one boss or manager in the audience that will sarcastically retort, “I show them I appreciate them every time I give them a paycheck!” Normally I respond by saying, “You’re right. But would you rather be right or look for a new employee?” Touché. That is music to a business persons ears since it usually costs 10X more to recruit, train and hire a new employee than it does to invest in retaining the ones you already have. That is a staggering number. So showing some appreciation to your employees is vital in a down economy.

How do you show them you appreciate them? The simplest and most cost effective way is to have an employee of the month program. Every month have a meeting where one employee who has shown improvement, gone above and beyond or had the best attitude is rewarded with a gift (minimum $50.00 value) publically in front of their coworkers. There are programs available that make this process simple and easy while allowing you to have maximum impact (see www.recognizeandreward.com). You want to “wow” the employee of the month so that he or she talks up what you gave them which in turn motivates others. You can also institute incentives for safety, sales or customer service. But make no mistake a pat on the back along with a gift in their pocket ensures motivation and helps to maintain employee loyalty.

Retaining employees in a down economy is no easy task, but if you begin to communicate, educate and appreciate the value of working with you and your company will increase exponentially!

Bob Sands

Corporate Training: E-learning and Skill Development

Training is imparted to the employees to ensure that they stay competent and resourceful for an organization.

Training is imparted to the employees to ensure that they stay competent and resourceful for an organization. The purpose of providing corporate training is to ensure the development of employees and to see that they are skilled and competent to take up any challenge.




Online training provides better results in skill enhancement as compared to traditional methods of training. It is convenient, easy to take; self paced, and can be easily assessed and measured. It helps to improve productivity and ensures development.

Most of the employees of an organization come from diverse backgrounds and hence possess different skill sets. They need to be trained in order to bring all of them at par with one another. They need to be trained on the skills that would be required in order to perform the job and to deliver solutions to clients. Some might possess such skills right from the beginning while some others don't. Challenges of imparting training to such people with diverse backgrounds can be addressed by e-learning tools and techniques.

E-learning helps one to take up the required learning. For those who have already have the knowledge of advanced learning, there are less chances of getting bored, as they might not be required to undergo the online training modules. By doing so, the learners who require the training will be able to make most out of it and achieve greater learning outcomes.

Online training solves this problem. It avoids the trainers directly to take an intermediate level, as they start giving training neither from beginning nor at the advanced level. This hurts the entry level beginners. Online training programs are designed in a step by step manner.

Beginner can start right through the first step whereas the advanced level learners can directly skip the initial few steps and take up the advanced level courses.

Trainees can spend their time want learning a particular module. This helps them to have a very strong fundamental background before they proceed with their job.

E-learning helps in skill development by controlling the kind of training that learners would require. It monitors the applications for corporate training and allows training managers to supervise the overall learning pace and development in their organization. Hence, the result is goal development and achievement for all.

Employees appreciate the management’s efforts whereas the management is also seen as supportive of employees.

Online learning can hence be seen as the most efficient tool for employee skill development. It should be thoroughly explored and put to use in a growing and developing organization.

Shiva Purohith