1. Look to add free benefits - find ways to add flexibility for your employees, in their work schedule, in how they can dress, in what they can bring to the office. Creating a flexible work environment reassures that your actions to streamline the business aren't tied to not caring about your staff.
2. Communicate Everything - Be clear and transparent. The more employees know about what's happening in the organization (good or bad), the more at ease and prepared they can be for what's happening, and the easier it will be to make changes when necessary. Leadership should be constantly speaking out and sharing results with employees, so they remember their role in your company!
3. Look for the Silver Linings - Some companies are choosing to focus on, and communicate where things are going right...see this article for how one company is looking at reduced turnover and lower hiring costs as a result of the recession. What's going right for your company?
4. Ask for ideas - Consider starting an idea-sharing program, or if you already have one, run a new campaign through it, looking to your staff (all of them) for new approaches to solving efficiency issues. You may find those folks you won't want to let go and you'll engage your workforce. Just be smart about communicating why you're doing this, so as to not create additional concerns about why you're reaching out.
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