HR's Critical Role In Economic Downturns

The current recession has forced firms to implement cost-cutting strategies that invariably impact the workforce. These strategies put human resources (HR) professionals directly in the limelight as they make critical workforce recommendations, manage the changes, and plan for the future. To be successful, HR pros must shift the focus of their strategic human resource management (HRM) processes — while keeping the employee top of mind. Performance and compensation management should shift from collecting data through periodic review cycles to analyzing and understanding the data to prepare for tough workforce decisions. Recruiting shifts from hiring to building talent pools and maintaining your employment brand for the future. Learning management shifts from career development to leveraging existing technology and focusing on programs with direct ties to revenue.