Tag: recession

5 Ways to Show Up for Your People During Challenging Times

In 2023, we find ourselves at an inflection point in the world of work. While the rollercoaster of responding to a global pandemic has slowed, the baton of uncertainty has been passed. The workforce now faces an unpredictable economy, widespread layoffs, and a pervasive feeling of burnout. That’s why the last few years have been […]

Is Q1 Still the Best Time for Hiring in an Uncertain Economy?

Even with the looming danger of a full-scale recession, as seen by record high mortgage rates and falling consumer spending, the job market’s strength has continued to act as a buffer. Despite massive layoffs in the tech sector, according to experts, there are employers planning to hire in the coming months as opposed to reductions […]

Dealing with Layoffs: How Outsourcing Can Support HR Teams and Small Businesses in a Recession

As businesses brace for the likely recession, HR teams have additional responsibilities. For many small to medium businesses, the economic downturn means layoffs will inevitably come into play. For HR teams, layoffs require additional responsibility and work and can be incredibly stressful for the entire team. To ensure business productivity continues despite the layoffs, HR […]

Science-Backed Tips for HR Leaders: How to Prioritize When Everything Seems Like a Priority

A recession is coming, and many leaders are rethinking their current HR strategies to stay afloat. While many technology giants have resorted to mass layoffs, Apple has taken a people-first, long-lasting approach: investment in its HR program. After all, a satisfied workforce is a successful workforce. Understanding the importance of the employee experience, Apple has […]

4 Ways to Retain Employees During an Economic Downturn

Talent management professionals have navigated 3 years of upheaval. From the sudden onset of hybrid and remote working models to major fluctuations in the labor market and the current global economic uncertainty, change has been the only constant. In addition to these challenges, there remains the enduring conundrum: how best to support, engage, and retain […]

Recession Fears Lead to Spike in Demand for Contract Workers

As companies become increasingly confident in a looming recession in 2023, contract workers are becoming a more attractive staffing option due to the relative flexibility with which organizations can eliminate contract roles compared with traditional employee positions. “The vast majority of U.S. companies are confident that an economic downturn is on the way, and many […]

Helping Employees Navigate in Times of Uncertainty

As we move into more uncertain economic times, collective anxieties often manifest in the workplace. An organizational response must be one of empathy and understanding, backed by robust policies that focus on employee engagement and well-being. This, in turn, will put firms in a better position to navigate the coming economic headwinds because they will […]

The Recession and Recruitment: What You Need to Know

The past couple of years have been quite chaotic for HR teams, as well as managers and executives trying to keep their teams staffed with qualified employees. First, the COVID-19 pandemic triggered a widespread shift to remote work, not to mention high volumes of illnesses and even deaths that kept employees off the job. As […]

3 Reasons to ‘Labor Hoard’ Frontline Workers with a Recession Looming

In the face of uncertain economic outlooks, many large corporations begin quickly looking for ways to slash budgets and save money internally. One of the most common ways they try to accomplish this? By trimming their workforce. Layoffs save companies money quickly and in large sums, but cutting back on employees is often a shortsighted […]

When the Going Gets Tough, Smart Leaders Double Down on Their People: Three Tips for Managing Teams in a Recessionary Environment

Today’s worker has a lot to think about. Supply chain shortages, ever-increasing prices, the ongoing pandemic, and now a potential recession—how can leaders best manage their people during such an uncertain time or, more specifically, when a recession seems imminent? When navigating a (pre) recessionary business environment, leaders should focus on their most valuable asset: […]