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Marcia answers leaders’ questions. Send your questions to md@mdaszko.com . Q: During this time of uncertainty, we have been able to keep all of the employees. A few left to move or retire. I’ve been transparent about the unknown future, but as sales fluctuate, how can we approach keeping our employees if we can? A: Cash flow is paramount for organizations. But this is also the time to examine your leadership and your culture. Based on those, leaders have choices to make. Some companies reacted and laid off employees immediately. Some companies put their employees’ well-being first and closed down quickly to keep their staff safe. Financially some have no-layoff policies and financially ensure their employees stability. After looking at many factors, leaders make decisions about how to keep the operation sustainable. Some owners will suffer in the short-term to ensure the company survives. For example, sales may be slow now. But if business comes back in three, six or twelve months, managers do not want to lose staff that they have invested in. Some companies have cash reserve. Others have only enough for a month or two. Does it make sense to borrow? Have you applied for the government funding? If it looks like your business will survive but be temporarily doing less work, think about where you make investments. Gather the people together to learn and work together. Get ready to re-open. What needs to be different?
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