What key questions should business leaders facing economic declines ask themselves about their workforce?
The vast majority of business think “cost containment” when economic crisis hit, while truly strategic business leaders think “opportunity.” The primary question that should be on every leaders mind is how do I quickly and easily reduce labor costs while maintaining productivity, innovation rates, and freeing up resources to pursue opportunities. More often than not leading organizations are presented with profound talent opportunities that they ignore due to blanket policies restricting spend. A very wise busy man once said that more wealth is captured in times of economic decline than in times of economic growth. The same can be said for talent. Q: Can organizations craft a workforce strategy that insulates the workforce from fluctuations in economic stability? A: Absolutely. We’re actually seeing more agility in workforce construction occur naturally versus by design around the world. Spend on contractors, consultants, outsourced service providers and other forms of contingent labor