The state of the economy is up in the air. Market challenges continue, uncertainty abounds, and global analysts agree that a recession – in some form – is likely. In this environment, business leaders are at a crossroads on how to move forward.
With so many unknowns, it’s tempting to hold back on any strategic preparation, opting to brace for impact instead. But seeing the broader picture and engaging in long-term planning will help limit the consequences of a challenging market – especially post-recession. Here are five questions to consider as you think critically about your business strategy and the role of talent:
What support do you need to sustain the overall business?
How did successful companies survive past downturns?
Will your current employees have the necessary skills both now and in the future?
Do you have the executive-level talent to lead your business through and out of volatile times?
Are you equipped to engage the talent needed through each core recruitment step?