You've Got Hand.

An economic downturn puts the employer back in the driver’s seat, as employees feel grateful for their jobs–and try to look indispensable in order to keep them.

Less than a year ago the topic at hand was finding ways to entice finicky and demanding Millennials to join your organization and stay there once you’ve got them. Now, the tables have turned, and with recession upon us, the employer holds the reigns to the talent market once again.

Who are these people? It’s not just in the world of recruiting new talent where the power shift has occurred. A recent BusinessWeek article by author Michelle Conlin discussed the idea that, internally, incumbent employees nervous about job security have changed their tune as well – and stepped up their game. “Bosses are witnessing a lot of bizarre behavior in Officeland these days,” says Conlin. “Clock-watching slackers are suddenly the last to leave.”

But is it really stepping up, leading ultimately to more productivity, or more like kissing up? Conlin quotes Trevor Traina, a small business web entrepreneur: “Every time I turn around, there is someone sticking their head in my office reminding me what they are doing for me.”

From Survivor Guilt to Every Man for Himself. This is a change from trends we’re used to seeing in post layoff aftermath. Stages of “survivor guilt” would typically set in, beginning with depression, and then leading to lower productivity, culminating with resentment that comes from feeling dumped on and asked to do the work of lost former colleagues.

In this new environment, it’s enticing to take advantage of the nervous employee by asking more of them, more often, but is that the best course of action? How should employers react, both morally and from a business perspective?

The bottom line, literally. Well, first, understand how these psychological effects affect your business. In fact, Gallup polls consistently do show that people who are stressed and insecure about their work, no matter if they express that stress by complaining or by sucking up, cost employers money, period. So, even though it feels good to be back in control, things aren’t as rosy as they appear. If you can master two key skills you’ll do your best to minimize the damage to your balance sheet:

Build Trust – enhance your credibility by following through on commitments and being candid without being judgmental. Be transparent in asking them for more blood, sweat and productivity. Set tough goals, but make them reachable.

Enhance Communication – let people know where they stand. Give them the news, good or bad, and give them individual feedback, too. If they’re safe, let them know they’re safe. If they’re not, let them know why and what the likely outcomes will be.