Recession-proof talent strategies: A Q&A with Matt Campbell
xxuWed, 08/09/2023 - 09:45
Companies across industries are preparing for the possible looming recession, including through re-evaluating their strategies around talent and hiring. Some companies are putting a pause on projects and turning to automation or limiting hiring in response to the economic downturn. Recession and growth are natural features of an economic cycle, so organizations should build agile talent strategies that are fit for both.
How should companies be re-evaluating their talent and hiring strategies considering the uncertain economic environment?
A&M Managing Director and leader of CPI’s Talent, Organization and People management practice, Matt Campbell, shared insights on considerations and approaches companies should take when reshaping their talent strategies in a recent article featured in BenefitsPRO, "Recession-proof talent strategies: A Q&A with Matt Campbell."
"Organizations need to emphasize all the talent plays to create flexibility, rather than just filling jobs. Consider the merits of buy-build-borrow-bot alternatives to determine the best avenue(s) for building a resilient workforce based on the relative risk and cost in delivering the business strategy and the need to pivot. This cannot be one size fits all and must be tailored to each functional and business group based on how the business environment is impacting their talent demand."