Aligning interests is a three-step process. The first step is understanding employee motivations to stay and leave during a crisis. The second step is understanding the reasons for senior leadership to retain or let go employees. The third step is aligning employee and senior leadership interests to create a plan for the future.
There are three reasons an employee would want to stay during a crisis:
“I need a job.” This reflects fear about the future, uncertainty about obtaining employment elsewhere, and the need to pay the mortgage, leading people to hunker down and not want to move.
“I am truly loyal and committed.” This attitude reflects faith that is unshaken. No matter what happens or what has happened in the past, some employees remain faithful. This is the group of employees who would need to be physically removed from their desks.
“I see a future with the company.” Employees are convinced that staying with the company will be beneficial because of the direction it is headed and because the end of the crisis appears to be in sight. This type of motivation is essential for success in the future. It embodies a willingness to meet challenges with a desire to succeed. In this case, the fear of losing a job is overshadowed by a positive commitment to the future.
There are typically three reasons someone would not want to remain at a company during a crisis:
“I have lost faith in the company.” This is the inability to see a path forward that makes sense to the employee or the inability to see where he or she fits into future plans. Losing faith can result from an employee losing confidence in leadership or simply, as an insider, not believing the company has a chance to succeed. In either case there is a failure by senior leadership to reach the employee. Senior leadership can have a major impact on employees either losing or gaining their faith.
“I have good options for my career and I should take advantage of them now.” It is critical for senior leaders to carefully establish incentives to keep employees, sending a clear message about their value to the enterprise. Those employees who perceive their options as “better” in the marketplace will go elsewhere.
“This is a good time to leave.” There is a window of opportunity to take advantage of a severance or a reduction in work force package. Taking advantage of early retirement (or another benefit) is similar to the second reason for leaving. However, in this case the company is in effect offering competing incentives to stay and to leave. Senior leadership should consider very carefully the incentives it creates for employees to leave or stay.