How Will “Best” Companies Respond to the Recession?
Featured Guest Blogger March 16th, 2009
Richard Federico is the author of Battling to Be the Best: Why Companies Compete for Best-Place-to-Work Lists (WorldatWork Press). He’s lived and worked through several recessions. Please note that the views of our guest bloggers do not necessarily reflect the views of the Sloan Work and Family Research Network.
Will companies on best-place-to-work lists, like Fortune, Working Mother and AARP, have the courage to step to the forefront and protect their cultures for work-life friendliness? Are they authentic? Or are they just “best” in good times? Let’s take them to the test–your companies included. We’d love to hear some chatter about all the great things your companies are doing to make my fears go away.
For example, using some of Fortune’s Best Companies list selection criteria:
Do you still care as a company as measured by:
- How you’re treating the people you laid off. Providing the very best transition and outplacement services? Protecting the diversity balance you worked so hard to achieve? Developing “alumni” programs that will get some of the lost back after the turmoil subsides?
- How you’re dealing with work-life balance issues for the survivors. Is your flexibility program still robust, well-used and respected by your managers–or has it become just words on paper?
- How you‘re helping the survivors deal with financial stress. Providing educational, counseling and spirituality support? Offering EAP, wellness and other stress relief help? Including family members in your counseling efforts?
- How you’re helping people in times of need. Do you have compassionate programs in place? Are these programs also touching your recently lost and your retirees?
- How you’re speaking and listening to the survivors. Are you communicating bad news honestly and thoroughly? Are you offering hope? Are you continuing to provide forums for frank employee feedback? More importantly, do you listen to the feedback? Is executive management still approachable?
- How you’re recognizing and rewarding the survivors. To counteract the absence of bonuses and salary increases, are you expanding your non-cash reward and recognition programs?
- How you’re continuing to celebrate and have fun. Are you still encouraging celebration and fun–or at least still holding the holiday and special event parties you had before the “dollar doom” paralyzed corporate America?
It’s your turn.
For examples of companies - including Intel, Discovery Communications, Brown-Forman, USAA, Yum! Brands and Cardinal Health - that are continuing to invest in the programs that win “Best” recognition, see this article from Wednesday’s Wall Street Journal: http://online.wsj.com/article/SB123733195850463165.html.
Richard, I’ve read your very insightful book, “Battling to be the Best” and appreciate your work. Your prediction of a return to “line-of-sight management” is scary stuff. But while the concern over work-life setbacks is a real one, I’m encouraged by the actions of the “best” companies. On this year’s “100 Best Companies to Work For” in Fortune magazine, 19 offer paid sabbaticals, up from 16 in 2008. http://tiny.cc/c7Fps. Thanks.
This is very scary. But i think we will pass the recession
This change in economic times has definately helped show who could adjust and repair. How companies treated people as they went through this process was also very interesting. We saw some good and a lot not so good.
I agree with lowongan kerja This is very scary
This is very hard situation for most of the company everywhere,In my workplace , the company start using outsourcing staff .
schematic