Dealing with the prospect of an economic downturn is challenging for any organization. It’s better to be out in front of it than behind and the time to plan is NOW. Here are some HR strategies to help your organization weather a recession.
Evaluate Your Employees’ Skills and Provide Training
In an overall strategy to help reduce costs, employees are often asked to do more with less. That’s especially true during a recession, where employees may need to take on additional tasks or work when an open position is put on hold or layoffs are necessary. Now is the time to evaluate your employees’ skills to ensure you have the right people in the right positions. Investigate where you can upskill or cross-train people for potential new roles, and then provide that training. Succession planning can also help you evaluate who could step into a position if an employee departs, helping to maintain continuity.
Katie Clancy, HR Generalist – Katie is a creative and enthusiastic addition to our team. She will be handling HR support and her duties will include employee relations, training, and benefits for our Employco clients.
Kristen Kelly, Payroll Specialist – Kristen is hard-working, dedicated and brings a coveted set of HR, accounting and payroll skills to our team. She will be handling payroll support for Employco clients.
