The Economy Is Bad, Change Everything—Wait, Let's Talk discusses the importance of employee engagement, especially in tough economic times, and addresses three employee engagement fallacies:

1. The New Word Is Human Capital—People Are Just Assets – Think of employees as "borrowed assets":
   
   Please think of your employee owners as "borrowed assets" who are lending you their time and talent in exchange for a job and the rewards that go with it—pay, benefits, security. It is a bargain that needs both parties participating and fulfilling their obligations. If we forget to hold up our side of the agreement, they will leave us for more lucrative offers.
   
2. We Don't Need to Worry About Engaging People—They Are Lucky to Be Employed – True employee engagement cannot be faked and those who offer ideas are often the most engaged employees.
   
   
3. Are People Motivated to Work Harder in the Bad Economy? Is Money Really the Best Motivator? – Employees are more motivated by doing what they find to be challenging and fun than by money.

The article stresses the importance of taking advantage of what has worked well and being slow to make changes to how you treat your employees: