blue chip economic indicators
When I was a young, my friends and I were obsessed with the idea of superheroes. We constantly debated who was the best or what super power we would want. A popular answer to that question was always mental telepathy and the ability to see the future. Now that I’m older, I still sometimes wish I could see what will happen in the future, but after many mistakes and missteps, I have learned that there are predictors of certain things that will effect the economy. It seems to be better to be prepared and prudent, especially when navigating any economic waters. During the tough storms, we at Corban OneSource know the importance of having all hands on deck, working with our clients to weather the storm by developing HR strategies specifically designed for them. Ultimately, our goal is to serve our clients to our utmost ability. Aligning a benefits, HR or payroll administration strategy with the current and future status of the economy is key to your future success as a business. We want to help you avoid as many human resources and administration issues during a downturn economy as possible. As we have said before, we don’t want to be “Debbie Downers”, but rather someone who is prepared for what may lie ahead. As Benjamin Franklin once said, “It is better to have an ounce of prevention than a pound of the cure.”

In recent studies of the economy, there a multiple indicators that echo those of 2007. According to Michael Lombardi’s article from Profit Confidential,  the three blue chip economic indicators that point to an upcoming recession include the low amount of jobs being added to the economy, low manufacturing figures, and declining manufacturing orders. Sometimes, tough times calls for tough decisions, usually ones that no one wants to make. During a recession, the relationships with your employees increases in importance. Hard-working and good employees are the force behind your business. As we have said previously, every HR Leader knows that a Reduction In Force is not an easy thing to do, nor an easy thing for employees to accept. Having a strong and communicative relationship with your employees during the good times and the bad only strengthens your business. Demand Media’s Ruth Mayhew states that having an open line of communication with your employees ” says you care enough about your workforce to keep them informed and you value their contributions in helping the company make it through the recession.” In our efforts to serve our clients in the best way possible, we understand the importance of this relationship. Corban OneSource unites customized service with our cloud-based technology to mitigate risk, improve efficiencies, and cut cost. Cutting cost without sacrificing employees is one of our main focuses during a recession. These strategies were put into practice during the 2007-2009 recession and proved to be successful.

Although many Blue Chip economic indicators point to a recession, that doesn’t mean the sky is falling. We have numerous clients and have seen other businesses continue to thrive and grow. With just a bit of preparation, your business can continue these positive patterns no matter the economic condition.  As a side note, besides mental telepathy, flying was my favorite super power.

Whether you need help recruiting top talent, managing your payroll and benefits, or navigating through complex HR issues, Corban OneSource is here for you. Our services are designed to help you save money and attract and retain the best employees. So if you’re looking for an HRO that can help you weather a recession, look no further than Corban OneSource. We’re here to help you every step of the way. In a time of recession , it is more important than ever to partner with a Human Resource Outsourcer (HRO) that can help you weather the storm. Corban OneSource can improve the ROI of your operation during a recession with our outsourcing services. Enabling your organization to survive a recession and strengthen its operations into the future.  Contact us now to find out how we can help you in a recession environment with our Variable Cost Model.  We specialize in companies with 75 to 6,000 Employees.