In challenging times, acting quickly and decisively is critical. However, decisions will have long-term as well short-term implications—executives must remember that the obvious course of action could have negative long-term consequences.
Specifically, executives need to bear in mind that the current economic downturn is only one phase of the ongoing business cycle. Other factors such as the globalization of the labor market, changing workforce demographics and the shortage of skilled workers will continue to affect the labor market long after the economic climate improves.
Accenture believes there is opportunity in adversity. Companies that respond quickly with innovative actions will reap the greatest benefits—both now and in years to come.
Authors
Peter Cheese is managing director-Talent & Organization Performance, Accenture. Cheese, who has more than 25 years of experience in consulting, works around the world with clients in all industry sectors. He speaks at a wide range of conferences and events and is the coauthor of The Talent Powered Organization: Strategies for Globalization, Talent Management and High Performance (Kogan Page, 2007). He was recently named one of Consulting magazine’s “Top 25 Consultants” for 2008.
David Gartside is managing director-HR Transformation Consulting, Accenture. He has more than 10 years’ experience in helping clients envision their future HR operating models and transform their organizations to achieve the vision. He specializes in large-scale global transformation programs that affect all aspects of an organization’s HR capability, from implementation of new HR information systems to managing the HR-influenced spend and supporting the talent management agenda. Previously, he was Accenture’s HR Transformation lead for Europe, Africa and Latin America. He understands the geographic complexities that companies need to overcome to drive a global HR agenda.
David Smith leads Accenture Talent & Organization Performance in North America. He specializes in designing and developing talent and organization performance strategies and solutions for clients. He has more than 18 years’ experience in helping Accenture serve global high tech, communications and media clients. Smith is a frequent speaker at industry conferences and events. He is coauthor of a new book titled The Workforce of One: Revolutionizing Talent Management through Customization to be published by Harvard Business Press in mid-2009. David holds a master's degree in business management and a Bachelor of Science degree in engineering.
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