8 May 2020

Key takeaways

  • During times of uncertainty, it’s important to focus on a strong team culture to help your people feel supported, motivated, and connected
  • By sharing information and decisions, you can help everyone work together towards common business goals
  • Communicate with energy and optimism, while looking for positive changes to support the long-term health of your business.

Supporting and inspiring the skilled people who keep your business running

Your business is built on the expertise of your staff, so their mental and physical wellbeing is critical to the ongoing health of your business. Our 2020 Built Environment Industry Pulse Check found that higher performing businesses agree on the need to invest in culture to attract and retain talented people – and in times of uncertainty, a strong team culture can make an even greater impact.

Here are the key actions you can take to lead your team through the crisis, ensuring they feel supported, motivated and connected with the business, and with each other.

1. Set a clear vision for the future

This downturn is different from a normal market cycle, and it’s understandable if people are feeling overwhelmed. In times like this, your leadership style and culture can have an outsized impact on employee experience and operational success. That means you need to reassure your team that there is a way forward.

  • Set a clear vision for the future beyond the crisis, to energise and motivate your team
  • Collectively identify opportunities to make changes that will support the resilience of the business – for example, by embracing technological solutions for remote working and collaboration
  • Stay focused on the positives, to cultivate and communicate a sense of optimism and energy.

2. Take your team on the journey

Your staff probably recognise that the business may be facing challenges, and will be interested to understand the response. By engaging key personnel in the decision-making process you’ll foster a sense of inclusion and ensure everyone is working towards common goals.

  • Be upfront about what you’re doing, and why
  • Lead by example, and be willing to listen.

3. Provide personalised support

Everyone deals with uncertainty in their own way – and some will find this period very challenging. While many of your staff are technically capable and highly proficient, they may be less accustomed to talking about their own needs and how they are coping. It’s critical to be aware of the stresses they may be experiencing, and help them to feel valued and supported.

  • Check in regularly with individual team members to discuss and understand their personal challenges
  • Create infrastructure and opportunities for staff to catch up with one another remotely, encouraging collaboration and camaraderie.

How Macquarie can help

The Macquarie Built Environment team is here to help you with personalised support, delivered by industry specialists.

To find out more, contact your Macquarie Relationship Manager, call 1800 442 370, or visit macquarie.com.au/business-banking/built-environment-industry.html

Additional information

The information on this page has been prepared by Macquarie Business Banking, a division of Macquarie Bank Limited AFSL & Australian Credit Licence 237502 ("Macquarie") for general information purposes only, without taking into account your personal objectives, financial situation or needs. Before acting on this general information, you must consider its appropriateness having regard to your own objectives, financial situation and needs. The information provided is not intended to replace or serve as a substitute for any accounting, tax or other professional advice, consultation or service.