Taylor Equities Founder, Steven Taylor, on Why it’s Important to Remain Calm in Business When Others Are Panicking
In the era of , many people are panicking. Nationwide, prevention measures such as shutdowns and quarantines have Americans living with the unknown. When faced with the unfamiliar, the common first reaction is to panic. As a business owner, it is important to remain calm while keeping your employees safe. While panic is a natural reaction to a crisis, panicking won’t save your business. To get through this dark time, we must remain calm and work together.
Why it’s important to remain calm in business when others are panicking:
Panic affects your ability to process new information
When in a state of panic, a person is set into “ fight or flight “ mode. In this state, our brains fight to process the best way to survive, which can affect our ability to process new information. Our ability to properly evaluate any news that we see, read, or hear can be disrupted. It is essential during this time that you keep a clear head in order to make proper decisions for your family and your business. It can feel difficult not to panic, but it is necessary to stay calm to keep your employees safe.
Panic affects your ability to develop a survival strategy
If your industry is still running during the pandemic, panic can also affect your ability to make every day business decisions. While many of us are working from home now, we still must continue with our companies. As you move forward, your best bet is to address new information in a calm manner and make one decision at a time.
Often left out of the commonly known “fight or flight” scenario is “freeze.” In the wild, panic can also cause animals to freeze up and not move at all. In business, freezing and making no decision can often be worse than making a poor decision. For this reason, panic mode is the last place you want to be in a bad situation. If you stay calm, you won’t freeze, and you can begin to make decisions to keep you and your company safe and running.
As a business owner, it is also your responsibility to keep your employees calm during a crisis. Panic is contagious, so it is important to be united as a group. Here are a few ways you can keep your employees calm, whether you are still in a workplace or working separately from home.
● Communicate Frequently
Develop a communication plan for how you’ll update your employees as the crisis develops. Panic is most often based in the “unknown,” so providing regular accurate information can reduce fear. Frequently update your employees on how coronavirus is affecting the business and their work. It may feel like communication overload, but it’s better to stay connected with honest updates then to leave employees in the dark. Steady information lets your team know that you are active, informed, and a strong leader.
● Prioritize Safety
While you may be worried about your business, your number one priority should always be keeping your employees safe. If your company is still working in person, enforce practicing proper hygiene and follow all CDC guidelines.
● Be Flexible
It is important during this time to be more flexible with workplace policies. Do your best to be accommodating regarding work arrangements. Your employees may be working from home, but keep in mind that many of their household situations have also drastically changed. Most kids are homeschooling now. This may mean that your employees need to shift their working hours or deadlines to accommodate helping their kids. Being flexible with how and when the work gets down shows compassion. When your employees feel considered, they feel safe. — Steven Taylor of Taylor Equities
Originally published at https://steventaylorla.kinja.com on April 20, 2020.
