The downturn won't affect you? THINK AGAIN!

Three of the most amusing and tongue-in-cheek remarks I have heard ever since the cotton selling Brothers-turned-Investment bankers (Lehmann, duh!) have been:

a. Two guys bump into each other when one asks “Sooo your bank still in action or has it gone bust yet..? No? Great". takes out his blackberry and sends across a resume.
b. Overheard at a Manhattan bar, a very pretty girl asking an “investment banker” in a dapper suit “hey baby, how is your portfolio?!” and the guy skulls down his drink and walks out saying "what PORTFOLIO?"c. At the some bar, another guy makes a move for this girl and says “Baby, I pay all my bills in cash! Don’t worry about the credit crunch!”

The point of the anecdotes? No, I am not giving you pick up lines for the downturn, silly. This is just to hint out to some geniuses that we are facing tough times, accept it.

The God-forbidden “R” word is making headlines everywhere, but there are many SME managers who are still in denial. Sample statements from two of my clients below:

“What recession? It’s the big boys who are facing the slow down”

“By God’s grace, I have enough goodwill in the market to survive this”

So, all who think that this is some Wizard of Oz trick being performed by Paul Greengrass & Co to knick the pennies off our back pockets: wake up and smell the coffee! We have been drawn against recessionary times, so recognize it and take measures accordingly.

During the tough times, more than ever, the role of HR in an organization becomes imperative to the survival of the establishment. We are all great planners and implementers, but we often overlook the vital difference the human factor can make. If you are not worried about this, maybe you should be.

Yes, there are $700 billion bailouts, and lots of Harvard and Stanford grads are working on the issues, but its up to you to cut costs, operate smartly. Those who have taken the view that “oh, its not going to affect me” well, its about time that you got the thinking caps on. The coming eighteen months are going to be tough. Pull your socks up!