The economy of 2010 and the future - compared to 2009
Many people in business are worried about the future. Some have seriously altered their business because of negative impact of the Global Financial Crisis (GFC) - less sales means less revenues - less revenues means less expenses - less expenses means less staff.
From 2008 onwards, businesses around the world have waited for signs that the economy will improve before they take optimistic and progressive action to grow their business. Sometimes, that sign is only when sales have picked up for several months.
But famous Canadian ice-hockey player Wayne Gretsky is known for having said that his success was not in being where the puck is, but to skating to where it was going to be.
So, if you want to be there and ready to beat the others when the economy picks up ... you will need to pre-empt an upswing in the economy.
“There is new optimism in the market with 67 per cent
of employers surveyed predicting the economy will
strengthen in [2010]. This is in stark
contrast to [2009] when only 6 per cent
thought the economy would improve. This increased
confidence [was] further illustrated by 45 per cent of
respondents intending to increase permanent
headcount and 22 per cent expecting to increase
their use of temporary and contract staff. A very
different picture to [2009].”
Nigel Heap, Managing Director of Hays Asia Pacific (Hays Salary 2010 Guide)
It looks like the picture in 2010 changed significantly since 2009.
The lessons are timeless. When are you going to skate to where the puck is going to be?