Research: Tackling the Economic Crisis

Has HR Learned from the Past?

In March and April 2009, Hudson conducted a survey of over 500 HR and business leaders in more than 30 countries worldwide to explore how HR priorities and challenges have changed during the global economic downturn.

The study illustrates the depth of the dilemma for businesses facing the need for cost savings and who are still keen to retain vital talent. It also provides HR and business leaders with practical advice on how to navigate the talent issues related to the economic crisis.

Some key findings:

• The study indicates that during the current economic crisis, companies' focus is not only on cost cutting through right-sizing, but also on talent engagement, talent development, and the retention of talent key to the organization’s success.
• Businesses better understand the cost/risk talent equation Engaging and motivating talent is a key challenge for HR leaders worldwide
• Overall, a multi-faceted approach is being seen in the HR strategies put in place to address the downturn