Preparing for 2012

Business Times, Monday, 28th November 2011

How do you see the global and local economy performing in 2012?  What do organisations and individuals need to do to ensure that they are ready for whatever next year may bring?

Given the current volatility in the markets, I do believe that the global and local economy will not perform as well in 2012 as it did this year.

Despite corporate and household balance sheets being generally stronger than when we were entering the last recession in 2008, organisations and individuals alike should start exercising prudence in their expenditure and investments.

Bigger companies may consider putting expansion plans on hold until more certainty returns while individuals should expect lower salaries, smaller bonuses and even job losses next year.

Whatever the economic conditions, it must not distract organisations from their core focus.  Organisations should communicate to their employees strategies being taken, if they want their employees to focus on work instead of polishing their resumes.

Finally, no matter how deep the ucertainity, it won’t last forever so organisations should still prepare for the next cycle ahead.

 

Ronald Lee
Managing Director
PrimeStaff Management Services Pte Ltd

  Webmail