Managing talent in a turbulent economy
5-11-2009
• Senior executives report they expect significant challenges to persist in the broader economy, and few believe the worst is behind us.
• Surveyed executives are focused sharply on cost cutting, including layoffs and other austerity measures. Efforts to align company costs with today's economic realities are now crowding out plans to keep and expand the customer.
• Reducing employee headcount remains the top talent priority and, over the last quarter, surveyed talent managers have shifted the criteria being used to determine work force reductions. As layoffs get deeper and more difficult, even employees with critical skills filling key roles are at risk of losing their jobs.
• While layoffs and other belt-tightening measures dominate executive attention, surveyed corporate managers still recognize the need to retain and train key talent. Layoff survivors can expect to feel the impact of the difficult economy through lower compensation and benefit levels.
• With governments taking a higher-profile role in business, the intersection of talent and risk management and regulatory compliance has emerged as an area of rising concern for surveyed business leaders and HR executives.
Project Announcements
PEAK Precision Manufacturing Plans Bowling Green, Kentucky, Operations
07/26/2024
Italy-Based Sipcam Agro USA Upgrades Wayne County, Mississippi, Operations
07/26/2024
Cleveland-Cliffs Plans Weirton, West Virginia, Operations
07/26/2024
IDEXX Laboratories Plans Wilson, North Carolina, Production Operations
07/26/2024
Germany-Based Ritz Instrument Transformers Plans Waynesboro, Georgia, Operations
07/26/2024
AirJoule Plans Newark-Wilmington, Delaware, Operations
07/26/2024
Most Read
-
19th Annual Area Development Gold and Silver Shovel Awards
Q2 2024
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
The CHIPS and Science Act will bring jobs back to the United States
Q2 2024
-
2023 Top States Commentary: Top-Ranked States Have What It Takes to Win Mega Projects
Q3 2023
-
The Bring Your Own Energy (BYOE) Party Is Starting
Q2 2024
-
Midwest becomes hotspot for semiconductor manufacturing and supply industries
Q2 2024