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Tips for dealing with economic uncertainty in your business

In the face of recent political shifts and economic slowdown, we’re navigating uncertain waters. Here are some recommendations for adeptly managing your team during these times:

  1. Prioritise Employee Wellbeing: Foster open discussions about staff wellbeing. Encourage team members to voice any stress or anxiety they may be experiencing.
  2. Establish Wellbeing Initiatives: Consult your team on strategies to promote their wellbeing and balance. Consider activities like team-building exercises, knowledge sharing, and charitable endeavours.
  3. Transparent Cost Management: Communicate openly and clearly about potential cost-saving measures. Present relevant and information without offering false assurances.
  4. Effective Consultation: Keep your team informed about any changes or plans in progress. Consulting with them proactively can help alleviate uncertainty-related stress as you navigate business adjustments.
Graham Burfield
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