How do we do this? We look at ways to support one another and our customers and our employees. We check our budgets, roll up our sleeves and get down to work.

1. Check Budgets

Are there areas where we can cut expenses? Can we bring our lunch to work and not eat out as often? Can we initiate “green” assistance by turning off lights, recycling paper, and keeping better inventory control on supplies?

We are all wasteful – we waste paper, water, time, energy, food, and everything else. If we just took a look at what we could reuse or save, think about the money we can save.

2. Roll Up our Sleeves

Can a project be completed at home or by someone else? If you have staff that you are responsible for, have you thought outside of the box to see if some of your business associates would be interested in “sharing” a worker or “renting” an employee. Maybe if you have 4 employees you can work with an associate company with no employees who may be looking for a temporary person.

3. Prepare

If this is the end of your fiscal year, prepare a budget that is as complete as you can possibly make it and be prepared to follow it. As you prepare the budget, talk to your staff, especially your supervisors and managers to get their input. This will not only help them understand the situation but provide them with the opportunity to possibly share a good idea.

4. Dust off the Business Plan

Many businesses write the required business plan and then file it away. This may be a good time to get it out and look at the research you did in preparing the plan to determine if you are still on track. If not, why not? If you are, did you plan for any emergency? This is the time you can update your plan to accommodate the current financial crises. This, along with your budget, may offer the road map you need to navigate through the next few months.

5. Think Out Side the Box

Is this a good time to look at a new product or service? Are you in a position that might help other businesses make it through the economic downturn? Only you know your business and what you might do to make a difference.

Will it be easy? No. Will there be a need to make hard decisions? Probably. But, if you are honest with yourself and your staff and your clients, hopefully you will find a way to make it all work. Good luck to all of us.

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Human Resource or Personnel departments are dealing with management teams planning on how to be more cost effective and looking at budgets to determine where they can trim costs. Employees are looking at how to balance their home budgets against rising costs in all commodities, while dealing with organizations who are not in a position to give increases to accommodate the cost of living increases.

All of this creates STRESS. What is the answer? There is no quick fix but there are ways companies can assist employees looking at monetary crisis.

* Talk to your insurance broker and ask if they have any programs you can present in-house to your employees to discuss:
o
+ Wellness and health cost saving techniques
+ Financial planning
+ Budget preparation
+ Access to financial assistance
* Communicate with your employees to make sure they are comfortable and aware of what is going on. It stops rumors and makes the employee feel a part of the process.
* Survey your clients to let them know you care and you are looking to be a resource to them during the rough times.
* Look at your budget and see where you can effectively save time and money, without compromising quality and service.

One area that might be beneficial is looking at your HR programs. The last thing you need or want is stress over a possible lawsuit. Make sure you are in compliance where needed and if you don’t know for sure, get someone with experience to do an audit to make sure you are doing all you should be doing. If you have an Employee Manual, make sure you are following your own policies. If you don’t have a Manual, look into putting one in place.

Finally, don’t be afraid to ask for help or guidance. Stress will continue to be there – you just need to learn to manage it.

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