It is too early to know the full implications of the coronavirus (COVID-19) pandemic, but most experts are in agreement that the economy is headed for a serious downturn. Proactive, advance planning by HR can help businesses weather the worst of the storm while preserving as many jobs as possible.
A recession is a difficult time for an employer, both financially and emotionally. When hard choices need to be made that affect the lives of many people, a head-in-the-sand approach serves neither the business nor its employees. In this episode HR expert Jenni Stone shares five practical steps businesses can take to reduce costs, maximize opportunities and ensure all resources are used to maximum effect in preparation for a possible recession.
Thank you for listening to this podcast. We will continue to keep you updated on the changing landscape of Human Resources and address any topic area you wish to learn more about regarding HR and HR Compliance. Please leave a comment below as we value your feedback or if you have an HR question ask and we just might make your question our next podcast!
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About HR Shield
Do you own a small business? Are you considering starting a business? Does hiring an HR professional not fit your budget and current cash flow?
Whether you are a newly certified HR professional, business owner, office manager, student or a general curious person HR Shield are certified HR specialists that provide quick, accurate and simple answers to common HR and business questions.
Our mission at HR Shield is to impact those small and midsize companies that don’t yet understand the value or can’t yet afford to hire a full-time certified HR professional. Our goal is to educate the small business owner and help them understand the importance and impact an HR professional can have on their company and one day hire a full time certified professional.
In addition to working with the small to mid-size business owner we provide a full white label HR portal and HR hotline for payroll companies, PEOs and staffing companies and support their small business owner clients.