Devon-based HR consultants, enlightenHR launched in 2004 to ensure that SMEs have access to top-flight advice and support whenever they need it. We spoke to three of their expert HR Advisors, to get their take on how your business can weather the people-impact of the latest economic downturn.
What’s the biggest mistake you see businesses making, when a recession hits?
enlightenHR founder, Alison Benney: Not being prepared. It’s far better to plan, but then to not need it, than to leave things to chance.
Senior HR Business Partner Holly Mapstone: Being forced to take fast action in a crisis doesn’t usually lead to good decision-making. You need to consider everything – roles, skills, your industry and your business strategy, as well as the culture your business needs to thrive.
Where have you seen this first hand?
Senior HR Business Partner, Pam Tilling: A company had been forced to make a quick decision, during a recession, and was being acquired. As part of this they had transferred people out of the business. They’d lost a lot of specialist knowledge, skills and experience, resulting in a dramatic financial impact on the business, and needed our help to get things working again.
What’s your top HR tip for businesses worrying about the recession?
Alison Benney: When there’s a downturn, there’s often an opportunity – whether that’s accessing new talent, evolving strategic objectives or implementing new operational practices to capitalise on the skills and strengths you already have. Be agile, think creatively, do things differently and ask the experts. Talking to us early is when we can add the most value and alleviate the most stress.
For a free 30-minute HR review, contact Alison Benney directly on email@example.com or 07967 221595, quoting ‘PDCC2023’.