(Michael Laff,
T+D) When times are going well, it’s all about the people. When times are going poorly, it’s about revenue.
Lean economic times serve as a wake- up call to
organizations, their leaders and employees to discover the real
priorities. Unfortunately, when the economy sours, engaging the best
talent takes a back seat to finding new sources of revenue, according
to a recent survey.
Adecco asked 200 leaders to list their priorities
during an economic slowdown. The first priority was generating revenue
and the second was pursuing growth opportunities.
Leaders said that during an economic downturn,
generating revenue becomes the top priority compared with the
fourth-highest priority during periods of economic growth. Recruiting
and retaining talent drops from the top spot during growth periods to
the sixth spot during a downturn.
A clue as to why priorities shift dramatically based on
economic conditions is contained in the answer to another question in
the survey about the most difficult workforce issues. The top response
was leading through periods of change such as a downturn or
organization restructuring. The next highest priority was managing
workers in Generation X and Y.
(Read the entire article.)
Tags: economy, economic crisis, generational issues
Categories: The Economy