Interesting piece in The Guardian on how we respond to a downturn.
Couple of points stood out for me:
1 We innovate in a downturn. We have to because old ways of working just don't work anymore. That means lots of opportunities. Danger is that organisations are too slow in changing and get caught out. What happens if you are traditional organisation with no culture of innovation?
2 We do things differently. It has been great to see employers try different approaches to saving money from their mostly costly asset – their people. Instead of cutting people employers are putting a freeze on recruitment, trying four day weeks, looking at new working patterns, flexible working, cutting bonuses, freezing pay rises.