Navigating Economic Uncertainty with Conviction

Jul 27 2022
3 min read
Navigating Economic Uncertainty with Conviction

We have lived in a world that has constantly and unpredictably changed over the past few years. It’s now abundantly clear that our leaders need to be capable of navigating change, uncertainty, and disruption. We can’t wait until the next catastrophe emerges – we need to be ready for whatever challenges are thrown our way.

GrowthSpace recently held a webinar on using the BANI (Brittle, Anxious, Non-linear, Incomprehensible) framework to strategize leadership development during times of uncertainty. With strategic leadership development, using skills mapping to help map current and future gaps in line with your business goals and expected plans, you can help ensure that no matter what happens, you’ll be ready. 

We need to invest in and develop our current talent, starting with our leaders

[Watch part one of our Webinar Masterclass: Organizational Development in Times of Macroeconomic Uncertainty]

Using HR Tech to Overcome Economic Uncertainty

Across all industries, the need for upskilling and reskilling is direr than ever as organizations and the technology they use rapidly change. There’s a lot of work to do, especially considering that most jobs that will exist in 2030 aren’t even created yet

The best time to plant a tree was 20 years ago. The second best time to ‘plant a tree’ and create meaningful, measurable talent development initiatives? Today. 

HR and L&D, with the support of leadership, need to adapt to new ways of working and learning. Ensuring your people are supported through skill- and challenge-specific L&D programs is one of the biggest opportunities for overcoming today’s challenges and preparing for tomorrow’s. Organizations must learn how to adapt to any change cycle and scale as they adjust to their “new normal.”

Technological advancements are disrupting the business world, including the way HR and L&D teams are able to strategize, design, and measure talent development programs. Improved technology is now enabling new possibilities for L&D teams, especially as AI tech gets smarter and more reliable. All you need is the ability to use it to your and your organization’s advantage. 

Regardless of whether we’re hit with a recession or not, one thing is certain for HR: L&D programs and strategy absolutely cannot stop. Developing your people’s skills is vital for your L&D programs to succeed in our rapidly changing world, and keeping your people growing and motivated is essential to avoid churn and the additional complications that attrition creates. 

You don’t have control over the economy or what’s to come in our ‘BANI’ world – but you do (or should) have full control over your business and the talent within. Upskilling and creating robust personalized employee development programs should always be continuous – but it’s more important today than ever. 

The best time to plant a tree was 20 years ago. The second best time to ‘plant a tree’ and create meaningful, measurable talent development initiatives? Today. 

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