How To Manage Morale When Companies Hit Turbulence
When companies go through times of change—whether acquisition, divestiture, leadership change, sales slump or competitive shocks—employees worry, then react, often with little input from management. When change is impending, the CEO (or top-most leader) ought to pull the leadership team together to share the news, discuss what the employees’ concerns might be, then decide on the appropriate message to be conveyed.
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Robert Sher is founding principal of CEO to CEO, a consulting firm of former chief executives that improves the leadership infrastructure of midsized companies seeking to accelerate their performance. He was chief executive of Bentley Publishing Group from 1984 to 2006 and steered the firm to become a leading player in its industry (decorative art publishing).