We may not see a Goldilocks economy in 2023, but you can create a Goldilocks talent strategy
Optimize your workforce while remaining cost efficient
With the Fed hoping the elusive Goldilocks makes an appearance this year, bringing with her an economy that is not too hot nor too cold, companies are looking for ways to be productive, efficient, and competitive.
In this environment, organizational leaders, with CHROs leading the way, must develop a human-capital strategy that is also just right. From a talent perspective, you want to be cost efficient and risk averse, but you also want to be creative and think about innovation and digital transformation. Your plans shouldn’t be too big nor too small.
Companies are striving to meet the professional and personal needs of employees at all levels. These organizations know they not only have to attract workers with new skill sets and knowledge, but they also have to retain and develop key existing talent.
Despite the specter of recession, corporate leaders must think beyond short-term cost-cutting efforts and look at talent as a long-term investment in the business. In the never-ending effort to add strategic value to the enterprise while remaining agile and efficient, there is an opportunity for talent organizations to help firms reposition for growth once conditions stabilize.