No $? No problem!

Hardly anybody is spared from the financial catastrophe at hand, and yet keeping employees motivated is still an important task. So how can companies boost morale while keeping a lid on costs? By Nasirah A.R

1) Open and honest communication

According to Alan Wilson, CEO of MSIG Holdings (Asia), tough times call for clearer and transparent sharing of information. “People should know what is going on, where we’re going as a company, what our plans and goals are and how we’re doing against our competitors.”

MSIG also introduced an internet system called Atrium, which works like an online magazine. It includes the latest news regarding MSIG’s key decisions and developments and also covers people-related stories that keep employees in tuned and connected.

Giving opportunities for employees to advance up the career ladder also helps boost morale. It also opens up possibilities for people to network with partners overseas, thereby facilitating an exchange of ideas that is beneficial for business.

2) A sense of trust

Fostering honesty between staff and senior managers alike would help employees feel like part of a big family where nobody is being left out. According to Chris Claridge, managing director of The Consulting Partnership, an open and honest relationship paves the way for better and impartial feedback from employees. In the long-run, this will help companies get a better idea of problems that needs to be tackled, making necessary improvements.

3) Close and solid relationship

By developing a close relationship between team leaders and members, bosses can quickly pinpoint when employees are upset over work-related issues. Having leaders involved and constantly working with team members helps leaders understand ongoing problems and issues better. They will naturally become more sensitive to changes in behaviour that might indicate unhappiness or a desire to leave.

Being able to identify dissatisfaction quickly would allow bosses to take immediate pre-emptive action before it is too late. Claridge says, “It is a key attribute for a boss in Asia to be a mind reader. Nobody will ever speak out here.”