Today’s rocky economy and skyrocketing cost of living may be leaving your employees feeling vulnerable to layoffs. Now is the time that you must make your staff members feel like an asset to your team, and alleviate any fears that they might be out of a job.

Worst case scenario: If your company is in the process of laying off workers, your department’s loyal employees may begin to worry and that could torpedo their productivity.

Action plan: Follow these simple steps to either assure your employees of their place in the company or prepare them for what might be inevitable:

Step 1: Access The Situation

You can’t calm your employees’ fears if you aren’t sure of their fates. Your first step is to assess your company’s short- and long-term plans so that you can determine what your employees are in for. Ask yourself: How well is my department performing? How well is each employee performing?

If your company has gone through a round of layoffs, you must determine if the cuts were division-specific (such as downsizing in the Marketing department) or company wide (such as a few workers from several different departments).

Step 2: Remain Positive

No one feels secure when others are being fired, but your job as a manager is to keep your team focused on their goals. You can do this by acknowledging job cuts without lingering on them.

Try this: Remind your workers that none of you have control over who stays or who goes — but you can control how well you perform for your company. And, excellent performance could make all the difference.

Step 3: Spotlight Marketable Skills

Sadly, some of your employees may have to find another job. You can prepare them by helping them outline their skills and pinpoint what career steps they should take next.

Filed under: Management Minute