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Top of the List of Skills Needed to Weather the Recession Is HR Management

Top of the List of Skills Needed to Weather the Recession Is HR Management
Employers are balancing their desire for continued growth and innovation with a necessary shrewdness in light of “the uncertain business environment ahead,” according to a recently released index on in-demand skills.

Employers are balancing their desire for continued growth and innovation with a necessary shrewdness in light of “the uncertain business environment ahead,” according to a recently released index on in-demand skills.

Scaling up HR departments seems to be top of mind for employers. By Business Talent Group’s count, employer interest in benefit-planning professionals and compensation strategists is on the rise – 100% and 215%, respectively. An off-shoot of executive search company Heidrick & Struggles, BTG focuses on placing project managers, interim executives and management consultants. Its 5th annual skills index, released July 28, is an analysis of staffing requests over the past year.

Interest in global human resources professionals rose 314%; demand for interim HR leaders jumped 400%. But requests for cost reduction experts also jumped 400%.

Economists haven’t rolled out the “recession” label, but as confirmed by the U.S. Federal Reserve on July 28, 2022, gross domestic product shrank for the second quarter in a row this year. And regardless of official classifications, business leaders clearly have money top of mind.

Nodding to the 200% uptick in requests for risk management experts, researchers said in a statement, “It’s clear that business leaders find themselves balancing optimism for continued growth with concern that key initiatives could be derailed by any number of economic, geopolitical, ecological, and cybersecurity threats present in today’s extraordinary risk environment.”

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Rajesh Tamada