Latest News Look at Alternatives to Layoffs For businesses facing tough economic times, layoffs might seem like the only answer to monetary challenges. But layoffs can lead to higher turnover, lower productivity and more stress. Read here for alternatives to reduce payroll while avoiding layoffs. Read this article

Working Through the Recession Worried About the Economy? Check out SHRM's resources for employers dealing with the falling economy, with tips to help your organization, your employees, yourself and your career. In Economic Crisis, Boards Take On Strategic Roles Boards of directors are taking more control of developing corporate strategy. To earn shareholder trust, and investments, they also should review risk management and compensation practices. In Trying Times, HR Must Step Up to the Plate HR executives say the poor state of the economy makes it more important than ever for HR to offer strategic business solutions. Multinationals Plan Selective Workforce, Pay and Benefits Cuts A significant majority of multinational companies are trying to be selective in planning 2009 workforce reductions and compensation/benefits cuts, even as they anticipate a decline in their company’s business performance in 2009, according to a Mercer survey. Recession Is Reducing Executive Pay Packages With the 2008/2009 recession showing no end in sight and the current spotlight on executive pay, many U.S. companies are cutting back on the annual bonuses and long-term incentives they pay their executives. Business Travel High on Cost-Cutting Radar Business travel costs will continue to increase among organizations in 2009 even if the number of trips declines, intensifying cost-cutting as the top business travel priority. Business Skills and Related News Organizational Readiness Key to Change Have a solid strategy and create a step-by-step, integrated approach to change management while assessing your organization’s readiness for change, advised experts at a recent conference. Communicating to Create Buy-In for Change Effective communication strategies can double employees’ degree of acceptance of change, according to one expert. Board Diversity Increasing Slowly, Report Finds The boardrooms of many top companies look a lot different than they did just a decade ago, according to a study of S&P 500 corporations. Nearly one in five of the new independent directors added in the proxy year ending May 31, 2008, came from diverse backgrounds or were women. Integrating New Execs Takes More than Name-Plate Change Numerous surveys have found that between 30 percent and 50 percent of executive appointments end in termination or resignation. The impact on the individual is significant. It is costly for the organization as well.

Featured Webcast Developing Leaders During an Economic Downturn Presenter: Dr. E. Ted Prince, Perth Leadership Institute Now Available With the economy sagging, business leaders are becoming more focused on improving their organizations’ financial performance. In this webcast, Dr. E. Ted Prince of the Perth Leadership Institute looks at how HR can identify and improve leaders’ financial impact on a behavioral level. This webcast is sponsored by LinkedIn.

From SHRMStore Leadership in the Era of Economic Uncertainty By Ram Charan Straight talk from the world’s most influential consultant on how to survive and thrive during the global economic meltdown. Available Jan. 5, 2009. Economic turbulence has arrived with a vengeance, and only companies that face it head-on at the beginning of this worldwide crisis will be the ones left standing once the dust clears. Renowned consultant Ram Charan traces the causes of this crisis, identifies the essential priorities managers need to focus on now, and offers clear guidelines for top executives and managers. From executive concerns to finance, marketing, sales and manufacturing issues, Leadership in the Era of Economic Uncertainty is the necessary primer for seizing opportunity and preserving profit in today’s global economy.