Bosses are like ship captains who must be able to lead by example.
Companies in which employers and employees feel a sense of belonging are more capable of overcoming difficult times, because their staff are prepared to make sacrifices to help the organisation stay afloat.
However, once the economy makes a full recovery, salaries that have been cut should be restored.
Companies should not forget their obligation to reward their employees when they are doing well.
Some employers are quick to resort to pay cuts during hard times, but slow to restore pay when good times return. In such cases, workers will feel that they have been short-changed and will not cooperate the next time the company is in trouble.
The current financial downturn provides an opportunity for bosses and employees to take stock of the situation, and come up with plans to steer their companies towards better times.
