Winners of the crisis don’t sack employees

PA’s Frank Madsen, a business strategy expert, is quoted in an article in Borsen. The article is based on PA’s Managing Uncertainty survey.and its main findings.

Frank gives his view on the findings of the survey, highlighting the key issues. Frank says: “Almost all companies look at the cost of their staff in times of crisis. Some companies consider staff an effective way to cut costs as it is easy to handle. However, it’s often the least efficient approach in the long run. Companies should take a more strategic perspective and look at the opportunities of a crisis instead.”

Frank continues: “A crisis is an opportunity to develop and make an extra effort to keep the best staff. Selective recruitment of talented staff is a means of developing your business and making it successfully through the crisis."

 PA’s Managing Uncertainty survey, conducted in summer 2011, asked more than 200 senior business leaders from across the world how they had responded to the financial crisis and what management strategies had proved most effective. PA's analysis establishes which actions added value and which did not.

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