Managing in a downturn

Weatherproof your organization

With the media full of stories of ‘credit crunch,’ rising inflation and global economic downturn the number of factors working against organizations only seems to grow.

Leaders face pressing questions such as:

‘how do I keep my talent from walking?’
‘how do I motivate and reward with less?’
‘do I have the right leaders?’
‘do I have the right strategy and if so, how do I execute it effectively?’ 

The good news is that there are clear actions that organizations can take that will see them through the tough times ahead and help them emerge stronger.

With over sixty years working with some of the world’s Most Admired Companies, we know the approaches and practices that work. Looking at duplication and waste and streamlining processes is important at any time but is even more so in a downturn.

But in our experience it is also the organizations that keep their cool and manage talent perceptively that survive and are toughened by the experience. They listen to their employees, engage them and provide clear and consistent direction.

From our Hay Group ‘Global Slowing Economy Survey’ we know the primary concern for many organizations is motivating and retaining key people during this challenging economic period. We work with clients to help them control their costs without damaging the core of their operation – their organizational, relational and human capital.

What’s more, we know that tough times call for a certain type of leader – one who can see the high ground and get their organization to it, fast. We help our clients ensure their leaders have the right set of competencies.

For more information on responding to the challenges of the downturn:
Hay Group's viewpoint on Managing in a downturn 
Can’t afford to reward? 
Responsible rewards: Did bonuses bring down the global financial system? 

Hay Group comments in the press on exec pay
Press release: Hay Group advises companies to take the bull by the horns if they are to survive
Podcast: Reward management advice for weathering the downturn

Building effective organizations 
Employee engagement 
Leadership transformation
Reward strategies