|
With daily unemployment figures on the increase, today's HR managers face the daunting task of dealing with today while preparing for tomorrow. As the saying goes, "When you're up to your neck in alligators, it's hard to remember that the objective was to drain the swamp."
With every company and law firm engaged in cost cutting and many reducing headcount, the dilemma becomes one of balancing short-term considerations for long-term development and growth. We believe that the organizations that will excel and grow following the current economic crisis have the following key factors:
1. Preferred Employer Status - Surveys show that organizations ranking high in employee satisfaction surveys overall are fair, communicative, responsive and focused. In retaining key employees and obtaining the valuable future employee referrals that they can bring, organizations that are truly in partnership with their employees will excel.
2. Varied Compensation Packages – There is no doubt that bottom line decisions will drive business as never before. In line with the ability to contain and cut employment costs, some organizations have adapted more varied and flexible compensation packages. While most existing employees are fixed on base salary considerations, the ability to provide flexibility in benefits and add-ons make a significant difference in capping or cutting some costs.
3. Joining Forces with Management – Organizations tend to excel when the HR function is perceived as an integral part of management as opposed to being a service provider. Not only can HR personnel provide critical financial information and strategic analysis of a company’s employment cost, they generally possess the management skills to recommend future technology and innovative workforce solutions.
4. Baby Boomers Talent Pool – With many baby boomers approaching retirement age but caught in the reality of investment losses, potential pools of qualified talent will expand to include more experienced candidates. The “best” person for the position may be able to provide not only the best skills for a current position but deliver the mentoring and training to help the next level.
5. No Pain, No Gain – Just as every athlete knows that regularly pushing themselves provides strength, so too with organizations in this economy. Companies and firms “pushing themselves” and looking at innovative approaches which may not be easy will find that they continue to gain additional growth and strength.
RECOMMEND THIS ARTICLE
You must be logged in
to recommend articles
| 
