My way of dealing with uncertainty is usually to look for more information. So, the last few weeks I've been reading a lot about what companies should be doing in a down economy. 

A lot of articles focus on the obvious - cutting costs and increasing revenue.  But most of the experts are urging companies to focus on execution, talent and customers. Not exactly rocket science.

But there is a common theme coming through in a lot of the discussions, blogs and articles swimming around in the ether – organisations have a real risk right now if they don’t communicate well with their employees, their investors and their customers.

I was reading a post by US business consultant Tom Peters called "Leading Yourself in Really Weird Times," which focused a lot on the role of leadership in that communication.  Tom's complete list of 44 Tactical Rules for Survival (and Success) in Loony times is the longer version and a great read. 

In the middle of so much uncertainty, employees need to know what the real state of your business is, how you are handling the economic downturn and what that means for them. 

In hard economic times people are looking for real information not gloss.  If there isn't any coming directly from the company, or if they just plain don't believe what's coming, then rumors take on an added significance.

Proving to them that you care enough to be honest with them when things are bad will inspire an amazing amount of confidence both now and when the crisis is over. That confidence equates to productivity and profitability.

Now is not the time to hide your bad news.  While we are in the middle of this loony time, organisations need to focus on communicating often and truthfully.