MANAGEMENT DURING THE ECONOMIC DOWNTURN

Management during the Economic Downturn

Management during the Economic Downturn

Commercial organisations are mirrors of the society in which they operate. Obviously, the needs of different Industry sectors vary depending on their function, products, markets and so on, but the common thread is society and the concept of 'global village' that is very much prevalent here. The big names across all industry sectors strive to portray themselves as leaders, and rightly so, in all that they do - and where better to start from than their office interiors, which immediately convey their status and commitment to all their stakeholders.

In the Middle East, the design and build (D&B) industry is extremely competitive by virtue of the number of players here. The clients here need something very fast and creative. The D&B sector needs to be prepared to come up with designs to outclass, outpace and outdo the existing architectures. Hence, we need to constantly look out for what is not available rather than what is available. Above all, as in every other industry your relationship with your client is of paramount importance. A relationship that is built on trust and dependability ensures the sustainability of any business.

As the economic downturn begins to intersect with the recovery, Deloitte announced a new report about talent trends in the changing economy based on a full year of in-depth research. This latest report, "Has the great recession changed the talent game? Six guideposts to managing talent out of a turbulent economy," captures ways surveyed executives and talent managers have adjusted their workforce and talent strategies to deal with the shifting economic forces. Further, the report identifies six key guideposts for executives to consider as they map out their talent strategies to address the challenges of the changing economy.

"Based on Deloitte's research, many executives are planning to use their pre-recession playbooks to manage their talent programs," said Rana Ghandour Salhab, talent partner at Deloitte in the Middle East. "However, relying on old methods to address entirely new talent challenges may prove detrimental in today's global economy that is desperate for innovation, refreshed leadership programs, and new demographic and skill gap challenges."

Ghassan Turqieh, Human Capital consulting partner at Deloitte in the Middle East, added, "In pre-recession times, the Middle East and the Gulf countries in particular used to be an "employee's market" where talents chose from what was being offered. The trend has changed throughout the ...