I believe that Human Resource is very strategic to any Business and the cost of acquiring, nurturing, maintaining and retaining them exceeds fairly in value compared to any other resource.

In troubled and tough times like this when businesses tends to seek the easy way out in downsizing and camouflage it as cost rationale, the HR Department and professionals managing such processes need to stand up and make it count.

They need to evaluate such options with tough performance parameters and be very aware of the quality of resource they retain and release. This is also the time employer brand can actually be fortified and a very clear message on the company loyalty be stressed upon.

I represent the other side of the table in bringing across the elusive talent most businesses frantically try to acquire during good times. Human Resource professionals should be able to forecast the troubled times better, build the resource maintenance strategy and relay to the margin obsessed management the importance of long term perspectives  and gains. This way they could avoid falling prey to knee jerk reactions that most organizations have resorted to during these times.

Most economists, management gurus, financial advisors and knowledge institutions have failed us in predicting such recessionary scenario, its duration and its cascading effects. A large part of this scenario is also the creation of HR Management fraternity through mindless inflation of HR costs over the last few years and should now own up the responsibility to temper it down to reasonable level for the benefit of all.

It should rather be left to our own competence in assessing business scenarios and working towards better results which in no way should be socialist or advocate cheap please everyone policy. A more rationale effort to manage the HR Costs and talent is probably the call of the day.