HR professionals must expect changes after the recession

22 July 2009:

This requires an ability to deliver practical, risk-free, short-term cost-cutting plans and then switch effortlessly to long-term strategies for growth and development.

There are five areas where HR professionals need to focus to get ready for recovery.

First, embrace new ideas. Organisations need to rethink how they pay senior executives — how they reward good performance when what counts as good performance has changed dramatically. They need to think about how to attract leaders who have the qualities for the new environment, leaders who may look very different from the current senior team.

Second, ensure good governance. Organisations are coming under increasing scrutiny from not only shareholders, but the public, politicians and the press. Fairness and transparency and value for shareholder or taxpayer money are paramount. Pay and performance need to reflect that agenda. HR needs to be a bold, critical friend to the board, providing guidance and minimising reputational risk.