When a small business is in trouble, the tendency for most owners is to keep everything quiet. Their afraid of a mass exodus of employees if word gets out.
True, once employees get the whiff of a rumor that a company is in trouble, many of them will jump ship. But if you take the proactive individual approach with key players in your small business, you all will win in the long run.
The way to motivate good employees to stay through tough times is to understand how each employee perceives their “fit” in the organization and how their role plays out in terms of company goals.
This does two things for your business. It helps you secure commitment from the employee to stay and communicates to them that they are important and may be able to help you turn your company around.
What do you think? Would you tell your employees if your company was running into hard times or keep it a secret? Why? Leave me a comment.