Editors Blog

A survey of HR directors and business leaders by recruitment firm The MBS Group has produced what it calls 'Ten tactics for tough times'.

Those involved in the research were all at board or senior management level, within the retail, luxury, and consumer goods sectors. How useful these tactics actually are is open to debate, but they provide a useful barometer of the current thinking taking place in top firms.

Tactics For Tough Times

1. Ride the storm - preparing for difficult times but not currently planning large scale layoffs
2. See upside in downturn - the best business leaders see opportunities in turmoil
3. Show me the value - rapid response and appropriate price promotion are working for some
4. Pocket returns in pockets of growth - some sectors are positively booming, such as online, home entertainment and some luxury brands
5. Refocus on emerging markets - opportunities in Asia are attracting increased attention and investment whilst Europe and the US flounder
6. Keep up with customers - businesses must find a way to match or exceed customers' increasingly agile changes in behaviour
7. Hang on to talent - attracting the best talent is increasingly vital, but also becoming increasingly difficult
8. Empower your people - business leaders are recognising the value of experience, while also ensuring that their people have the right skills and training in place to survive and prepare for the upturn
9. Keep up morale - maintaining workforce morale will be a decisive benefit
10. Engage your staff - keep staff members on your side.