Some Companies Will Prosper During Recession

Some companies will hold their own during the recession.   Some will withstand the downturn and possibly emerge even stronger for the experience.   Some will even prosper.   Case in point is French-owned advertising giant, Publicis Groupe.   According to an article in Advertising Age, Publicis CEO, Maurice Levy,  retains an upbeat attitude about the current economic conditions.   Publicis surprised everyone with better earnings and stock pricing increases.

Publicis is moving forward in digital advertising, which is expanding rapidly as new technology and strategies come online.   Levy maintains that making the correct strategic decisions through acquisitions and corporate development, Publicis has been able to anticipate the current environment.   As with most sound companies who have good strategic prowess and who realize the needs of their clients in this harsh economy, Publicis is moving forward.

There is a lesson here.   While most of your competitors are cutting back and, often, turning to desperate acts, this is the time to move forward.   You have to be careful in developing the right strategy and in making sure you are servicing your clients in ways that will help them maintain.   Product and service messages will most certainly change during such a harsh economic climate.   What worked as a marketing strategy a year ago, will probably be ineffective today.   Clients will ignore certain messages and find others unattractive.   On a simple level, snob appeal won’t make it, where function and durability will.

You need the right staff for this environment.   As one client told us, after a series of major employment cutbacks and layoffs, you would think employees would buckle down and show how valuable they are.  You would  think they would be more productive.  Not less.

While some are more focused at their jobs, others show little or no increased efforts.  Others actually back off the throttle and revert from mediocrity to something less.   Our client was amazed, and opined that the news and times may prove debilitating for some, and they tend to freeze like the proverbial deer int he headlights.

You don’t need those people working for you, during such critical times.   There are plenty of skilled employees who have been laid off and are looking for work.   Some of your newly recruited employees will lhelp you move forward and advance, despite the economy.   Some employees. will develop strategies that will leave you stronger when the economy turns around.  And some  that you are considering as job candidates may merely be castoffs, dead wood from another company.  The last thing you need right now are you competitors’ deficient workers.

Recruit carefully.   Perhaps you need  new employees who can develop strategies that will sustain you now and help you prosper in the future.  Make sure your preemployment screening program is up to date and includes the right amount of background checks that will reflect skill sets and behavior patters.   Conducting psychological testing and apptitude testing shouldn’t be out of the question, despite the expense.   It is a battle zone out there, and the strongest, quickest, and smartest are the ones who will survive.

Check them out before you hire.