Home Archives December 2008 Keeping employee spirits up in a downturn

Keeping employee spirits up in a downturn

| Print |  Email
Monday, December 01, 2008

It’s not often the relocation of a business to a smaller office space is credited for improving employee morale.

But when Rose City Mortgage Specialists in Portland did just that in October, it helped reduce the overhead costs of a company in the hard-hit real estate industry. “[Employees] feel like at least we are not going out of business,” says Renee Spears, president and CEO of the company.

Understandably, many workers are worried about the health of the economy, their 401k plans and job security. Maintaining a positive spirit in the workplace during a recession can be challenging.

Business and human resource leaders agree that transparency is one way to maintain employee morale in tough times. As daring as it might sound to share financial information on the well-being of your company, the more an employee knows the more empowered they feel.

“Employees need to know if we are making money or not making money,” says Ken Madden, a vice president at Madden Industrial Craftsmen, a private industrial and construction staffing firm in Beaverton.

The notion of a private company opening up its books to employees is relatively new, but one that is increasingly necessary and justifiable, says Madden.

There are always the standby employee-recognition programs and gift-card giveaways, though ongoing communication by top executives and seeking employee input on ways to deal with some budget issues are the most effective, says Tom Kelly, a senior vice president at the HR and management consulting firm Ameriben Solutions/IEC Group in Portland. The company’s chief financial officer recently sent an email to 220 employees explaining the firm’s financial status.

To reduce stress at the workplace, once a week Spears holds a yoga session with an instructor at the office for employees. To cut transportation costs and the stress of commuting, each employee is allowed to work from home one day a week.

Heading a small company, Spears knows when morale is waning with one of her 15 employees. When one of her loan officers was having a difficult day and feeling low, Spears gave the agent the day off and offered personal words of encouragement.

Madden also knows he can’t survive the downturn with bummed-out employees. So he gives out Portland Blazer tickets to employees, one of the hottest seats in town.                                       


JASON SHUFFLER

Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it


 

More Articles

Poll Wrap-Up

News
Friday, August 15, 2014

2014 NewPoll-report-newsletterthumbIn this week's poll, we asked readers: "Who should pay for the troubled Cover Oregon website?" Here are the results.


Read more...

Community colleges and sustainability

Contributed Blogs
Thursday, July 31, 2014
sustainabilityBY MARY SPILDE | OB GUEST CONTRIBUTOR

Faced with the aftermath of the “great recession,” increasing concern about the environment and dwindling family wage jobs, we have some very important choices to make about our future.


Read more...

The global challenge

News
Friday, June 27, 2014
062714 thumb globalmarketBY JASON NORRIS | OB BLOGGER

Over the last several months we have seen a wave of cross-border acquisitions, primarily U.S.-based companies looking to purchase non-U.S.-based companies. There are a few reasons for this, but the main culprit is the U.S. corporate tax system. The United States has one of the highest corporate tax rates in the world.


Read more...

Podcast: Interview with Steve Balzac

Contributed Blogs
Tuesday, August 19, 2014

082014BalzacBY TOM COX | OB BLOGGER

Tom Cox interviews Steve Balzac, author of "Organizational Psychology for Managers."


Read more...

Green Endeavor cleans up

News
Wednesday, August 06, 2014
080614 ULnew greenendeavorBY LINDA BAKER | OB EDITOR

Portland startup Green Endeavor strikes gold, inking a partnership with Underwriters Laboratories, an Illinois-based consulting and certification company with offices in 46 countries.


Read more...

OB Video: Oregon MESA

News
Thursday, June 26, 2014

ThumbOregon Business hosts an informal roundtable discussion about the Oregon MESA (Mathematics, Engineering, Science Achievement) program.


Read more...

OB Video: Dress for Success

News
Wednesday, July 02, 2014
DFSOBY JESSICA RIDGWAY | OB WEB EDITOR

Dress for Success Oregon promotes the economic independence of disadvantaged women by providing professional attire, a network of support and career development tools.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS