Management Tip of the Day: How to Be a Good Leader in a Recession

Recessions necessitate an extra focus on tasks and results, but people should not be ignored; after all, you lead people, not results. Here are three tips for handling your people well in a recession:

1. Be open and honest. Share as much information as you can. Talk to people even when there is no concrete news to share. Give people regular opportunities to discuss what's going on and ask questions.
2. Encourage and motivate. Don't assume that your people are grateful that they have jobs. Show them that you appreciate their efforts, especially if they are working harder because of the recession. Give them positive feedback and extra help as needed.
3. Offer training and development. These programs are a good investment in your company's future and show people that you care about their long-term career prospects.