Retention of Loyal Employees During Recession
Here are a few tips:
A) Motivation - encourage them by having a closed door one-to-one chat and briefing them about the reasons why their work is important for the organization during such trying times
B) Review pay package - since many employees are likely to be terminated during recession, perhaps a few can also be given a raise (at least a few chips) to keep them cheered up
C) Double bank positions - put two (or more) people to work together to enhance their individual skills to contribute productively to the organization
D) Reduce work time - where ever possible, reduce work timings at least for a while so that existing employees do not feel overburdened; anyway productivity is low.
E) Re-structure organizational chart to provide more responsibilities to prevailing employees without intentionally increasing the workload.
Hope this helps!! Sekar.