Despite the assertion of many economists and financial experts that the U.S. entered a recession, many organizations have failed to plan for the implications of an economic slowdown from a workforce perspective. An unemployment rate consistently below 4% and the continued perception of a shortage of qualified workers have exacerbated the slow reaction to impending economic changes.
While the majority (54%) of HR executives believe the U.S. is currently in a recession, most businesses are not prepared for an economic downturn. Most (52%) organizations are only in the early stages of discussing the scenario.
This study, sponsored by PSG Global Solutions, examines attitudes about if the U.S. is already in a recession, and where organizations are in terms of planning for it.