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How to Be a Good Leader in a Bad Economy

Though we’re not there yet, some economists feel the U.S. is headed for a recession. Many Americans are already feeling the pressure of inflation and other economic difficulties, and it can be hard to keep your employees motivated and engaged in a challenging environment. If you’re looking for ways to keep your team’s spirits high, start with our post, 5 Top Drivers of Employee Engagement, then take a look at the ideas below.

Keep Focus on the ‘Why’

There are two applications to this tip. First, keep your mission front and center, and remind employees why you’re in business. Second, let employees know the “why” behind business decisions – particularly the tough decisions made during difficult economic times. Keep yourself visible and available to build a sense of trust and assurance.

Actively Improve Morale

Keeping employees’ spirits up doesn’t happen by itself. You need to show intention in your quest to build morale.

  • Encourage employee feedback through online surveys, employee focus groups, and the good old-fashioned suggestion box.
  • Celebrate victories, no matter how small. If prospects for reaching long-term goals are dampened by a rough economic environment, focus on the successful completion of more immediate projects and initiatives.
  • Keep an attitude of gratitude. Check out these 7 Fun Ways to Show Employees You’re Thankful.

Stay United

An economic downturn is one of the most critical times to build and present a unified front. Make sure your management team is presenting consistent messages to employees, and don’t be afraid to overcommunicate. Also, schedule activities to encourage camaraderie and build teamwork.

Stay Transparent

There’s no overstating how critical trust is in business. The best way to do that is to maintain transparency and honesty. Have candid conversations – especially during tough economic times, when the stakes are high, emotions are intense, and conflicting opinions are prevalent. This may not come naturally for some members of your teams, so invest in training that helps company leaders handle crisis communication important issues.

Give Your Employees the Opportunity to Grow

Knowing that there’s a path to advancement in their career keeps employees engaged. Not only that, but they value the opportunity to learn and grow. That’s why a solid training and development program is critical to maintaining morale and engagement.

Want More Ideas?

Mega Force is dedicated to helping you recruit, hire and retain top talent. To find out more, contact us.



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