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The Power of Recognition in a Recession

In times of change, culture management becomes more important than ever. These four steps can help you engage employees and boost company performance during uncertain times such as a recession.

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In times of change, culture is not the place to cut corners.

We may be on the cusp of a depression, with dispersed employees working remotely across the world. The record-low unemployment the United States boasted mere months ago feels like a distant memory. We’re back at the bottom of Maslow’s Hierarchy of Needs, with many HR leaders concerned about their own physical and emotional well-being, as well as those of their loved ones and the many employees who count on them.

A 2020 Gallup study of more than 10,000 employees found that people need four main things from leadership: trust, compassion, stability, and hope. These qualities have always been crucial for a thriving workforce, but since the outbreak of COVID-19, it’s become clear that these traits are what will get humans – and the organizations they work for – through this. That’s why establishing and maintaining a culture of recognition, gratitude, and connection is more important now than ever.

These four steps can help you engage employees and boost company performance during uncertain times.