Blog Post: Great Opportunities Arise from Troubled Times

While the recession has officially been declared as beginning last December, it took a while to reach us here in Houston .  As recently as this past April, our unemployment rate was at 3.8% - one of the lowest in the country, and the lowest in Houston since December of 1998!  Companies all around the area were scratching their heads at the break-neck speed of the change.

So, what is an HR professional to do when unemployment, sales revenue, and hiring needs are changing so quickly?  My advice is: breathe.  Relax just a little bit and remember that even at 5.4% unemployment, Houston is over 1 full point behind the National rate, and lower than Texas ’ State unemployment level.

Even in this uncertain economic environment, HR leaders need to keep their wits about them.  The great ones will be looking at this period of turmoil as a period of great opportunity!

Remember a few things during times like these:

• HR teams get their chance to really shine – and you better, since the spotlight is on everyone!
• Great companies will continue to invest in their human capital and have the chance to prove – once and for all – that their people are truly their greatest resource!
• There is a lot of great talent available.  Layoffs happen to even the best people when they are in the wrong place at the wrong time.  Now is the time for the savvy HR teams to snatch them up – often at much more affordable wages than in the boom times!

I’ll close with the analogy I used in my team meeting yesterday morning.  Imagine you are a surfer.  Your goal: catch the wave and ride it in.  But before the wave comes, you lay on your board and paddle like crazy.  You hardly get anywhere, yet you are using tons of energy for what little movement you get.  Then it happens…  the wave comes and off you go!

Houston hear me:  there is another great wave coming that will lift our entire community.  NOW is the time to start paddling.  Sitting around on the board just makes you attractive to a shark. 

So get out there and get paddling!  I want to ride the wave with you when it comes!