Surviving a Recession: The People Plan

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I have traded through at least four deep recessions in my career, and many downturns. In a prior post, I shared some of that experience, and in my last post, I discussed risk factors for companies to consider so they can shore themselves up ahead of the next inevitable downturn.

Here, I talk about the people, both those you choose to keep on your team, as well as you and the decisions you make that can make or break your firm.

The Right People?

Here are things to consider about those you are surrounding yourself with.

All-star reliance. Does your company rely too much on one or two recruiters? You are proud of your 10-person, $2.5 million business, but if the reality is you have three admin staff, and two of the recruiters account for $1.5 million between them, if the market drops and one of the big billers leaves, the tiny billers become almost zero billers. Turn out the light and shut the gate.

Lightweights. On the other side of the coin, and this may sound harsh, but are your recruiters lightweight? Flat track bullies? In other words, they survive, even look good, when the orders are flowing, and the times are merry. But in truth, they have no depth of relationship. They are order-takers and résumé-flickers. They can’t sell, network, or open doors. You need to evaluate this now. If that revenue dropped as described, who would have to go? Who would you keep? Would anyone be able to survive the post-apocalyptic recruiting world?

Extraneous staff. Do you have a fat layer around your belly? Lots of non-billing managers on high salaries, doing … what is it they do again? Read more here…

Source: The Staffing Stream

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