Worried that a jittery market will lead to jittery employees, some chief executives are scrambling to ease workers' worries about a potential new recession, according to a Wall St Journal report. From company memos to "town hall" meetings, corporate leaders are looking at how they can jack up morale in the work place. At the same time, many are dealing with employees already skeptical of management—given the rounds of layoffs in recent years—and must choose their strategies carefully.
A voice mail distributed to Citi employees by CEO Vikram Pandit last week after a huge hit to the company's share price acknowledged that the market drop was reminiscent of those during the financial crisis, but said that there is "little similarity between now and then."
Mr. Pandit's voice memo didn't calm nerves, according to one global markets analyst for Citigroup. "What else are you going to say when something like that happens?" he said, adding that some workers in his group, which is just completing an eight-week training program for new employees, are worried that jobs won't be available for them when they finish.
Unfortunately manager communications can sometimes have the opposite effect than what they intended,…
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