7 Human Resource Strategies to Use in a Recession - PowerPoint PPT Presentation

View by Category
About This Presentation

7 Human Resource Strategies to Use in a Recession


Do you want to learn more about Human resources Strategies? hire us – PowerPoint PPT presentation

Number of Views:1575


Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: 7 Human Resource Strategies to Use in a Recession

7 Human Resource Strategies to Use in a Recession
  • Presented
  • By Its All About People
  • http//itsallaboutpeople.ae

How deep will the recession be? How long will
it last?
Estimates for recovery vary wildly from the
blackly dismal to the rosily optimistic. It seems
the only thing we can know for sure is that no
one really knows.
With the future so uncertain, business
publications have taken to promoting the
philosophy that recessions create opportunity...
at least for those with the moxie to make success
happen. While this may come across to some as a
tired cheerleading attempt, there is soundness to
the ideology.
Even during the Great Depression companies like
Kellogg's, Proctor Gamble and Chevrolet did
more than survive, they excelled.
The people who steered their winning course did
so with a combination of courage and
inventiveness. In other words, they used moxie.
So where do you start? What kind of changes will
ensure your company succeeds? Below are seven
human resource strategies that are easy to
implement and can make a big difference.
1.) Lead with Confidence
During these troubling financial times, it's
natural to want to take the backseat until the
road ahead becomes clear.
However, companies need strong leadership to
prosper, now more than ever. Providing direction
inspires confidence in your employees and helps
build a faithful staff. Businesses that lead
effectively now will retain loyal staff to meet
their present and future challenges.
2.) Communicate effectively
Making sure people have the information they need
is the foundation for any good relationship
3.) Recruit purposefully
Companies who make severe staffing cuts and don't
keep their HR people connected to potential hires
will be caught severely short staffed. 
4.) Make cuts strategically
Consider outsourcing the functions you can to
help reduce costs, but don't forget to take good
care of any employees you might eliminate.
Generous packages create goodwill and increase
loyalty from those who remain.
5.) Be strategic about delivering PD
Use your slower times to sharpen the skills,
technical and personal, of your employees.
6.) Take great care of your customers 
Remember the days when you attended networking
events to stay connected, while secretly hoping
you would not get too many new engagements
because you did not know where you would find the
staff, time or energy to provide the service? It
all seems like a distant memory but it was
probably less than 12 months ago.
7.) Avoid layoffs with creative strategies
Before you cut staff, consider alternative ways
to save money while still saving jobs. A day
off without pay, work sharing arrangements,
worker sharing with other companies, salary
cut-backs, government assistance programs - these
are only a few of the numerous possibilities that
may work for you and your employees. Get creative!
Whether you consider yourself to have moxie or
not, the current recession calls for courageous
and inventive thinking. Implementing ideas like
the seven above can not only help your company
weather this global storm, but position it for
full sail ahead when the storm has passed.
Do you want to learn more about Human resources
About PowerShow.com