It is a common myth that employee wellbeing programs tend to evaporate when firms experience a financial downturn. Here are five strategies to boost employees' mental health and wellbeing to sustain higher productivity. 1. Open Communication and Active Listening During Financial Challenges: Research underscores the power of open communication in shaping a supportive work climate, even in times of financial difficulty. Regularly informing employees about the company's financial situation, coupled with an acceptable recovery roadmap, can significantly reduce employees' anxiety and uncertainty. In many situations, internal employees over external expensive consultants can often have a unique and intimate understanding of their organisation's challenges and dynamics, making them particularly effective at diagnosing problems and proposing solutions so active listening is critical for the CEO. Establishing open channels for employees to voice their concerns and sugges...
- Dr Kumar Biswas, Senior Lecturer, UOW ABS-Tel [a fictional name] started its operation back in 1991 in Sydney, Australia, and currently has over 5,000 staff members providing telecommunication services across Australia and Southeast Asia. Observing its competitors' pervasive adoption of AI, ABS-Tel is contemplating to integrate AI into its people management process. Despite excelling in talent acquisition and management, ABS-Tel faces declining employee engagement and a staggering 19% employee turnover over the last 12 months. To address these emerging problems, the HR director of ABS-Tel is keen to explore the potential pros and cons of investing in AI. This case delves into AI's positive and negative aspects in people management to consider whether AI should be adopted for streamlining people management, which may incur a significant investment. Upon in-depth research and cost-benefit analysis, the following summary has been presented for the CEO's consideration. ...