CPR for Your Business: Surviving Company Transitions

I am one of only six employees at the firm where I work. As such, I am actively involved in decision making and well aware of the firm’s financial standing. Not only does this give me a sense of ownership and pride in the company, but it also helps me understand the firm’s situation and financial future. It keeps me motivated to work for the good of the firm.

In a difficult economic climate, when layoffs, downsizing, and pay cuts are occurring, it is essential to keep employees motivated and informed. A mid-sized company in my area recently went through lay-offs and pay cuts. The remaining employees not only have more on their plate, but also have smaller paychecks. This kind of situation can often create high tension in the workplace. So what can ease the transition?

Communication
Be clear with your employees about what is going on around them. Allow employees the opportunity to provide feedback and generate discussions. This open dialogue presents two benefits – 1) employees understand the situation and 2) they can offer ideas on how to improve the situation (from the bottom up).

Positive Attitudes
Losing co-workers can be tough, especially at smaller companies. It’s no easy task to plaster a smile on your face in the midst of company turmoil. However, this endeavor is necessary. The attitudes of management tend to have a “trickle-down” effect. If management can portray a positive attitude, employees are likely to follow suit.

In the same line of thinking, it’s important to continue traditions such as birthday celebrations or weekly outings. These events don’t have to be expensive. They are an easy way to brighten the workplace and show workers that the company still cares.

Reassurance and Praise
Employees are particularly anxious after lay-offs. Make sure to keep the “Atta Boy’s” and back pats coming for those who deserve them. Keep in mind that many employees are taking on bigger loads and that a “thank you” can go a long way.

Company transitions are never fast, easy, or fun, but with these few pointers you may be able to relieve some of the strain. So if your company is in need of a little CPR, remember, Communication, Positive Attitudes, and Reassurance.


--LeAnn Carlson is the Audit Manager for Cook & Associates, a full-service public accounting firm offering audit, tax, bookkeeping, and consulting services. The Firm has offices in San Marcos and San Antonio, TX.