A recession can create numerous challenges for employers, often requiring them to adapt for
their organizations to survive. By preparing and implementing multiple recession-proofing
strategies, employers can build resilient organizations and minimize the financial hardships
of an economic downturn. Proactive employers will not only be better positioned to navigate
a recession but may also find opportunities for growth and increased efficiency.
This guide provides strategies employers can use to prepare in advance and navigate a recession,
such as:
- 1. Assessing organizational talent
- 2. Increasing employee retention and engagement
- 3. Creating effective communication channels
- 4. Mitigating costs
- 5. Considering downsizing options
Although a recession cannot be prevented, careful preparation can greatly impact whether an
organization withstands its impacts. Taking action early to prepare for a potential recession
can be critical to building a resilient organization.