Survival during Recession
Recently a survey was carried out by a Time Factor reporter on employee survival during this recession period. One Mr. Adebayo Musa who works as a senior security officer in a reputable company had the most touching story.
He was quoted as saying, “Before this recession wahala, I was living in a 3 bedroom apartment with my family. We had enough to eat and even some to give out. But since this recession, my brother, things have been hard. Two months ago, I had to relocate my family to the village. As I am speaking to you, I have no house to stay in Lagos and have been managing to lay my head in the company’s security room.”
Mr. Musa’s experience begs the question as to what employers should do to get the best out of their employees during this tough recession period, as research shows that happy employees are usually highly productive. However, with salaries being reduced or at best remaining at the same level while purchasing power is dropping by the day, how can one expect employees to give their best during this period?
To find some creative answers to this dilemma, TAMS Nigeria recently hosted human resource managers across the country at the TAMS HRM Workshop in Lagos with the theme ‘Optimizing Employee Performance During a Recession’. The keynote speaker was a highly acclaimed HR consultant and strategist, Fela Durotoye.
Mr. Durotoye emphasized the need for HR managers to put the issue of employee engagement in the front burner of corporate culture. While stating that opportunities abound even in harsh economic environments, Durotoye encouraged HR managers to have a growth mindset and not a survival outlook, noting that “The market never shrinks. It’s the players that do.”
It is becoming increasingly clear that effectively engaging employees is of great significance at this time, even beyond adding to wages, the value of which has been weakened by the recession anyway. Thus, as organizations of all sizes and types work to promote employee wellbeing, the human resources function must continue to champion this as a critical element of corporate culture and practices beyond the recession.