The optimal blend of competencies for success in a recession are different from those in a growth economy. After a fantastic decade of economic expansion, many companies now find themselves unprepared for the harsh and rapidly changing landscape we find ourselves in.
Discussing the issue with our customers, it became clear that if they were suddenly tasked with making a senior hire, they lacked the knowledge of ‘what good looks like in a recession’. Not only that, but they also found a lack of reliable data on this topic and certainly no consensus.
We consolidated the most credible studies to answer the question: “what characteristics can be consistently identified that makes a leader successful in a recession?”
Identifies & reacts appropriately to sensitive situations
Adapts quickly & makes decisions swiftly and proactively
Effectively handles stress, problems, and obstacles
Fortunately, several fantastic studies do exist that examine the actions taken by leaders within the top performing organisations out of some 8,000+ throughout the last 5 recessions.
We now have a definitive list of non-anecdotal, evidence-based, successful traits and actions of leadership executives in prior recessions.
A TALENT SOLUTION FRAMEWORK FOR TOUGH MARKET CONDITIONS
(Industry average failure rate is 40%)
(Most likely to thrive in tough economic conditions)
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