HR departments may want to look at their employees in times of recession as good management is likely to be the key to success for many.
That is according to the British Chambers of Commerce (BCC), which has suggested that opportunities can arise from a downturn.
David Kern, chief economist at the BCC, implied that it is possible for companies to survive the economic crisis as long as they invest in their employees.
Mr Kern said: "Recession provides opportunities as well as risks … the businesses that are surviving in a recession require good management and recessions are a great test for management."
A recent report published by BDO Stoy Hayward LLP, revealed that there is some optimism returning to the world of business.
The study revealed that despite the dire financial outlook, short and medium term business confidence had risen for the first time in 13 months.
Businesses, the study suggested, are being more realistic about the recession and are adjusting their business models to cope with the tough economic climate.