Leadership / Management | Organizational Development | Training & CPE

Five talent management strategies in turbulent times

Run Are we turning the corner?

We have been watching for signs of recovery and they seem to be showing up recently. The latest FEI CFO survey shows that CFOs are cautiously optimistic. Here is a recap of that report from last week:

"CFOs are looking up, but remain committed to utilizing some of the important lessons learned during the downturn and keeping companies streamlined. Their views on staffing are mixed."

So what does this mean? What should you be thinking about regarding staffing?

I like the approach suggested by Josh Bersin of Bersin Associates in his post, Five Talent Management Strategies for a Business Downturn.

  1. Plan ahead. Don’t swim naked. Cut strategically.
  2. Continue to invest in talent. Reward high perfomers. Keep the culture intact.
  3. Look for great hires. Don't freeze all headcount.
  4. Communicate clearly and honestly.
  5. Turn outward (meaning outside the business with customers).

In its most recent Talent Watch report, Bersin sums it up very well:

"The global economic slowdown is over and companies are in a transition period. Now is the time to rethink strategies for leadership development, skills training, performance management and employee engagement. People who have survived the downturn are starting to feel a sigh of relief, so we must take steps to reengage them in possible business growth."

Is it time to position our organizations for growth by getting our people skills in leadership, innovation and customer service to be ready to seize opportunities as they present themselves?