Wed, October 31st, 2007 - 3:18 pm - By Gordon Basichis
Corporate America is braced for the worst period of economic uncertainty since the start of the decade as the credit squeeze and the housing meltdown heighten the risk of a US slowdown.
US chief executives say the economic outlook has not been so difficult to read since the last recession in 2000-01. They warn that in spite of signs of a pick-up, the threat of an economic contraction is still alive.
Conflicting economic indicators and volatile business conditions make it difficult to take strategic decisions such as whether to hire or fire staff, or increase or slash capital expenditure, business leaders told the Financial Times.
For the complete article go to FT.com
Corra has seen several reports about economic downturns and tight times ahead. Undoubtedly, this is probably the case. But sometimes prediction of recession does more to bring on recession than actual business statistics. Whether this is true or not on this occasion is hard to say.
Meanwhile, we have had associates and clients tell us times are good for them and that they are expanding their businesses and hiring new employees. Sometimes tough time also create opportunity, and that is definitely a factor to consider.
For those undaunted by the dire predictions, if you are recruiting new employees you are still competing for talent. Recent reports have noted there isn’t enough talent to go around. And if you are hiring, you should have a preemployment screening program in place.
Background checks are essential today. They are cost effective and will reduce exposure to liability and public embarrassment. Check them out before you hire.