When a recession hits, fast-paced changes take over for companies to survive. Quick decisions like freezing hiring processes, laying off personnel, and cutting expenditures can negatively impact the employer’s brand identity. But in these times of recession, branding is more crucial than ever. So companies have to work harder to preserve their brand during recessions to maintain their standard of production and employee quality and morale.
Here are some ways to maintain employer branding during times of recession:
Keeping the culture alive: If you want to engage your employers and ensure they do not feel like leaving your company, it is good to promote the shared values you all have as a team. Creating a work culture that involves reinforcing the presence of like-minded people gives them a sense of belonging and validation, which in turn inspires them to stay and continue producing quality work.
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Protect and preserve: Keep things transparent. The more your employees know, the more they feel trusted and included in the company’s future. It is so important to keep an open line of communication to and from your employees so that you can review their work and regularly reinforce achievements. And your employees also have the opportunity to stay connected with management by offering constructive feedback on how to better manage different departments and processes. This connection between management and employees gives your employees a feeling that their needs and ideas are valued and protected. Whether there are tough decisions or challenging tasks, knowing that you’ll get through this ‘together’ offers the team a lot of support and motivation.
Grow with the flow: Many companies are known for distinct characteristics and well-trusted products. But in today’s times, reinvention is the new trend. To be relevant, you must embrace reinvention, innovation, rebranding and daring to change. Often, companies shy away from this because they are afraid to tarnish their traditional ‘image’. But it is precisely that which needs shedding. For consumers to remain interested, products and services to be considered necessary, and for company employees to have new challenges to keep them inspired and open to acquiring new skills.
It may not make sense at first to invest time, money and energy in your company’s brand, especially during times of recession. But it is precisely at this time that a company’s brand and image needs more support than ever. Not only does this save the company from losing out on clients and business during a recession, but it also creates a strong foundation for the future, strengthening your company’s ability to tackle and withstand trends to come.
Reference: From ”The Value of Employer Branding During a Recession” | Glassdoor Team, Glassdoor | 15 July 2021
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