Recession is a time to think innovation and expanding market coverage – a quick synopsis of the general theme in this briefing series.
Research conducted into companies that have grown, rather than contracted, during periods of economic stagnation shows us that these companies are good at, amongst other things, spotting attractively priced acquisition targets. But it is not just under-priced competitors that we should be thinking about. It is also the pool of talent that is becoming available as companies go into job-shedding mode.
I was therefore very interested to learn that in the finance sector some players were actively looking at the talent pools that are becoming available – described by one corporate leader as “a historic opportunity to recruit bankers, traders and risk managers” – to gear up their capability to:
- Push into product areas where demand is growing or will grow, rather than contract
- Expand geographically and
- Strengthen their position to move quickly when the economy recovers.
An example drawn from the finance sector that applies of course to any industry.
Information Source: Guerrara, F (2008) Morgan Stanley to use $1bn job savings for top-level hiring spree. Financial Times July 31