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Managing a team through an economic crisis comes with a long list of challenges. From budget cuts to deteriorating morale, the pressures of a crunch can quickly evolve into a tricky balancing act. For scaling businesses, that challenge includes growing teams against the backdrop of a volatile talent market.
So, how should businesses support staff through difficult times? What are some of the core challenges of motivating a team through a crisis? And how can you ensure the business continues to grow, while the economy slows down?
In part three of our mastering the downturn series, we take a people-first approach, and discuss how to manage teams through an economic crisis. We’ll discuss how to motivate morale-strapped teams, scale amidst budget cuts, and deal with downsizing. You’ll come away with a clear vision as to how to support your team through the worst, and come out the other side.