CIOs Negotiate the Recession by Investing in Talent

4 comments

George Colony, CEO of Forrester Research (who, by the way, writes a blog and can be seen regularly on Twitter) recaps his dinner with CIOs last week.  Although the discussion focused on politics and the recession,  most of his observations were focused around people and talent. 

According to George…

1) Outsourcing is not a silver bullet. Use the recession to build internal skills.

2) Use a slowdown to improve the team — look to bring in great people who have been laid off elsewhere.

3) Avoid the “Dead Sea Syndrome.” The Dead Sea has an inlet, but no outlet, so most of the pure water evaporates, leaving brine. Don’t let your best people evaporate in a recession.

4) Cut training and development last. That resource is critical to success in the post-recession period.

5) Use a recession to make tough decisions — to get rid of redundant and non-performing vendors, and to cut low-performing employees.

What are you doing to take advantage of the recession?

  • http://training-time.blogspot.com/ Marie

    I love to hear top executives say things like #4 – Cut training and development last. Even when times are tough, developing the talent under your roof will help you bounce back faster when good times come around again. Training keeps employees engaged and builds loyalty, strengthening your team. Focus on what you have and you’ll come out on top when the recession comes to an end.

  • Chris

    I agree with Marie. As a recent graduate of college, I have put in nearly two years with my current employer who is lacking in their professional development support efforts. I hope something changes soon …. there are a lot of other companies that pay better and are willing to invest in their people!

  • http://www.catchyourlimit.com Jeff

    He sounds like a smart guy…I love the Dead Sea Syndrome metaphor.

  • http://www.infohrm.com Nicholas Garbis

    Recessions are the time to refocus and retool — and this should not exclude human capital.

    For those orgs that are contracting, a human capital strategy will be a critical element of their ability to resurface as a stronger organiztion. It is workforce planning in hyperspeed — what HC do we need, and what do we have….then make sure that it is executed and communicated effectively. Last thing you want is for the best HC assets to walk out the door.

    The orgs that follow (or backslide into) the flawed paradigm of “people as an expense” will be the victims of the downturn. They may not go down first, but they will represent the greatest losses.

Previous post:

Next post: