Many leaders assume that if they admit that the company is facing turbulent times it will scare away its best employees. The assumption is that these employees will worry less if management holds their cards close to their chest. Nothing could be further from the truth. Everyone knows that we are going through a global pandemic. Everyone knows certain sectors of the economy are already getting hit hard by changes in consumer behavior as a result of this virus. And everyone knows a slowdown in parts of the economy and increased uncertainty might impact their company as well.
Going through a downturn and making tough decisions to keep your company afloat is hard. However, if you lead with compassion you will touch the lives of your employees in an extraordinary way and come out of this potential slowdown stronger than ever before, enhancing the shared values of your staff.
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