Appreciation key to managing in tough times

01/19/2009 | Bloomberg Businessweek

Keeping staff motivated while still cutting costs is tricky, but successful executives will remember that empathy is free and it's the key to great staff morale. MGM Grand CEO Gamal Aziz has instituted daily meetings and maintained training and recognition programs to keep spirits high by showing workers that management cares about their well-being. Aziz says keeping workers invested in their jobs is the key to prospering during a downturn.

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