---

Guest post by: Lola Kakes Become an Author

Tweet

---

---

In my company newsletter this month, the Employer’s Advantage, I highlighted stress and how to deal with it in the workplace. There can’t be anything more stressful in today’s marketplace than coping with an economic downturn. Gas prices are sky high, which impacts the cost of goods and services in all industries; large corporations are laying off workers; the housing market is struggling to rebound; and employees are wondering what will happen next.

Human Resource or Personnel departments are dealing with management teams planning on how to be more cost effective and looking at budgets to determine where they can trim costs. Employees are looking at how to balance their home budgets against rising costs in all commodities, while dealing with organizations who are not in a position to give increases to accommodate the cost of living increases.

All of this creates STRESS. What is the answer? There is no quick fix but there are ways companies can assist employees looking at monetary crisis.

• Talk to your insurance broker and ask if they have any programs you can present in-house to your employees to discuss:
o Wellness and health cost saving techniques
o Financial planning
o Budget preparation
o Access to financial assistance
• Communicate with your employees to make sure they are comfortable and aware of what is going on. It stops rumors and makes the employee feel a part of the process.
• Survey your clients to let them know you care and you are looking to be a resource to them during the rough times.
• Look at your budget and see where you can effectively save time and money, without compromising quality and service.

One area that might be beneficial is looking at your HR programs. The last thing you need or want is stress over a possible lawsuit. Make sure you are in compliance where needed and if you don’t know for sure, get someone with experience to do an audit to make sure you are doing all you should be doing. If you have an Employee Manual, make sure you are following your own policies. If you don’t have a Manual, look into putting one in place.

Finally, don’t be afraid to ask for help or guidance. Stress will continue to be there – you just need to learn to manage it.

Related Articles

  Recession-proof PR
  Career Change in an Economic Downturn
  Franchise Blog
  Survivor Innovation Island
  Do you want to succeed in a down economy? Many have; you can too.
  How to Hire the Right Person During an Economic Downturn
  How to Keep Employees Happy, Boost Morale and Reduce Stress During an Economic Downturn
  How to Hire the Right Person During an Economic Downturn
  Quick Tips For Hiring In A Recession
  The Current Franchising Climate
  Making Money in an Economic Downturn
  Need an Economic Stimulus Package?
  Never Sell Alone
  Beat the Bear and Outperform All Competition
  Tough Times, Optimism, Personal Responsibility and Success
  HOW TO “GET YOUR HEAD OUT OF THE SAND” AND FACE REALITY WITH POWER
  Why Starting A Business Is Recession-Proof
  Public Relations Pendulum Continues to Swing
  Prepare for the Worse but Hope for the Best
  Students Worldwide Looking for Job Security

Related Forum Posts

Re: Create your own small business reality show
Young Entrepreneur in International trading
Depressed Entrepreneurs
Re: You don't need the new iPhone
Simple way to avoid Cold Calling

Share this article. Fund someone's dream.

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

** The Passion of the Resume**

Why Use a Franchise Consultant?

Moving Past Rejection: Speaking of Motivation

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.