Preparing for the Upturn in the Market

Lately there has been a lot of news in the media that Western Canada is seeing the first signs of economic recovery. Housing sales and starts are up, unemployment numbers in June were significantly lower than predicted and companies are starting to hire again.

Summer is traditionally a slower time of year for most companies and this year with the economic slow down it has given us all time to pause and reflect on how we do business and whether or not this is getting us the results we are looking for. Now is a great time to take a close look at your business from an HR perspective in order to ensure that you are ready for the upturn in the market.

Some of the things companies should be looking at are:

• Do you have the right people in the right jobs?
• Do you have enough people to get the work done when the economy shifts forward again?
• Are you compensating your people at fair market value? There was a skilled labor shortage prior to the economic downturn and that shortage will be a reality again as the economy improves. Now’s the time to access talent that would normally be very difficult to find.
• Do you have the right human resource systems, policies and practices in place?

Spend some time now while things are still relatively quiet and make sure that you are ready to hit the ground running in the Fall!

Related to Preparing for the Upturn in the Market:

• Hiring – What not to do
• Managing a Shorthanded Summer
• Skill Shortage