Before a business may close its doors, there may be a few bad news that may happen before the exact decision will be made. The truth here is that leaders, business owners, and visionaries may face setbacks when they operate. Those setbacks may crush your aspirations at times. But still, you need to deliver the bad news.
Leaders may give off the bad news to different audiences, including regulators, customers, employees, investors, and their families. Regardless of the scale of this bad news, you need to keep in mind that you need to alleviate the impact of this bad news. Here’s how:
3 Ways to Alleviate the Bad News
Here are some strategies to follow to decrease the negative impact of the bad news:
#1: You Have to Share the Bad News First
A crucial part of leadership is ownership and accountability. As the leader, it is your duty to communicate with your investors and your team when it is necessary, especially during hard times.
When you manage your employees, you will have to first communicate the bad news internally. Trust is crushed when your people find out about the lay of, closing of business, and pay cuts when the media circulates the bad news before they hear out from you.
The messenger is essential when it comes to delivering the bad news to different audiences. And that messenger is no other than you!
#2: You Have to Share the Bad News Fast
The sad truth is that the bad news does not get any better when the time passes by. So, it is vital that you get your facts straight first and properly share the news as fast as you can. Getting bad news out to your employees as soon as possible will let you earn the respect and confidence you deserve from your people. Plus, it will help you all throughout the challenges together. But, sharing the right information is also crucial as the speed of communicating it. So, get your facts together and let them out fast!
#3: You Have to Share the Bad News Fully
As a leader, you need to strive to share the entire news as much as you can and as fast as you can, with your team members. It is essential that you fully disclose the facts altogether and every detail that surrounds the bad news. And at the same time, you also need to reiterate to your employees that the updates will follow as time comes. Remember that transparency will allow you to defuse rumors and lessen the uncertainty of the bad news.
The Bottom Line
While you will seldom control the bad news, you will control how, when, and who you share it with. When you apply the three methods above consistently, then you will lessen the impact of the bad news. Good luck!