Managing during an economic downturn: year-end ideas
Recession: The Human Capital Challenge
By Jack Keogh, Managing Director, Keogh & Associates Consulting, LLC
Year end is a good time to take a look at what you might need to adjust in your HR department. Here are some ideas to mull over during the holidays. You might decide to implement some of them to increase the strategic impact of how you manage Human Capital in your organization during the current recession.
And, if like most, your business is experiencing a downturn, now may be the time to shift your approach so that it more closely fits the new realities. The key is to be proactive. Act now to implement a handful of strategic actions that will have a measurable impact on the firm’s productivity, rate of innovation and competitiveness in the marketplace instead of waiting for the inevitable budget cuts. When the going gets tough, HR can choose to be either a victim or part of the solution. Perhaps it’s time to stand firm against calls from the top for a headcount review and possible recruitment freezes…