I was asked by Forbes today to offer up some experience around some actions companies take during tough economic times like these to maintain or even increase employee happiness and wellbeing. We all know that without a happy and thriving team, there’s no growth, especially in a recession.
At DotNext we strive to employ a two pronged approach to increasing team happiness and wellbeing during recession times like these. First, we immediately roll out substantial, structured and predictable performance based compensation in the form of bonuses and spiffs. Nearly anyone, including managers and directors, can earn additional compensation if they are able to perform above general standards on a challenge by challenge basis. As a result, regardless of economic slow downs, team members are still able to maintain control over their financial destiny.
Second, we aggressively enhance the quality, frequency and quantity of spirited culture activities that play directly into happiness and wellbeing. For example, our team holds competitive monthly ping pong tournaments, gathers weekly at pubs and cafes, has weekly trivia contests and just recently joined a corporate softball league. Simply put, there is a direct correlation between increased positive cultural events and team happiness and production.
Each of these efforts enhances our level of happiness, strengthens our bonds and positions us for great production and growth even in recession times.
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July 27th, 2009 at 6:39 am
the Economic Recession has been pretty hard on us. some of my friends lost their job because of the massive job cuts. i just hope that our economy becomes better in the following years.
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August 1st, 2009 at 7:17 pm
the Economic Recession made a lot of people jobless but at least there is some good progress on the economy this year. i just hope that the economy will continue to recover in the following months and years.
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August 8th, 2009 at 1:00 pm
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January 5th, 2010 at 7:51 am
I think we are also seeing some signs of recovery from the Economic Recession. Of course, we have no idea of how long it will take to completely recover, but some say it’s going to be longer than for the other recessions in decades. I also scanned an article yesterday that said business owners need a new set of tactics to do well during recovery.
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