3 ways to function in the recession
The recession. We have all heard the buzz that it is coming, leaving people on the edge of uncertainty. We also know how it impacts organizations; investments postponed, operation costs throttled, and employee headcount cut. Where does this leave companies in a climate that is already facing a global shortage of skills and capabilities? It causes employers to think outside the “normal” human capital box and adapt as quickly as possible. Employers who can do this will be ahead of the game and here are the ways they are doing it.
- Investing in internal mobility and career growth
- Utilize employee assessments for high potential assessment, leadership development, and team development
- Reskilling/upskilling programs to train employees for new jobs so there is not a need to hire externally
- Utilize current employees and lean on an alumni network
- Use (or create) a strong employee referral program – good employees know good employees
- Focus on boomerang employees – those who left on good terms and might want to return
- Utilize an Executive Search firm for hard to fill positions
- Unfilled roles are missed opportunities; companies lose efficiencies and earned revenue (depending on the position).
- If you have tried and failed to hire internally, engage with a search firm for those one or two businesses critical, yet hard to fill roles
Are you interested in learning what your competitors are doing or have a vacant position that is draining time, money, and resources? Let us know.
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