HR advised to stay course in downturn

By David Brown
|Canadian HR Reporter|Last Updated: 01/23/2001

Of course it depends on who you ask about what lies ahead for the Canadian economy in the months ahead. There are signs of a slowdown but everyone seems to interpret them in different ways. Soft landing or hard, recession or minor slowdown. South of the border the word recession keeps popping up. That can’t be good for Canadian business.

Fortune telling and economic prognostications aside, it does seem likely that after several years of incredible prosperity when unprecedented growth and a shortage of talent drove HR strategies, HR departments may now be wondering if the field they’ve been playing on and the rules they’ve been following are about to change.

At least some Canadian HR experts say that while the context could change slightly as the economy goes through a shaky period, many of the challenges will remain the same and HR shouldn’t be too reactionary about gloomy headlines. The reason? The knowledge economy still has a lot of growing to do and old economy firms may finally have a chance to catch up.