Every business will need to respond in its own way to the cost of living crisis. The clever ones will see this as a complex web of considerations, including: purpose and values, balance sheet, strategy, and the shape of the workforce. Communications, both internally and externally, will be key to maintaining customer and employee loyalty and retaining the talent needed to survive and hopefully thrive.
We gathered a group of Chief HR Officers to discuss and debate how businesses can best respond to the cost of living crisis. We had a huge range of experience in the room, with leaders from retail, media, technology, fintech, pharma, manufacturing, private equity, asset and wealth management, real estate investment and professional services.
We saw some stark contrasts between approaches businesses are taking, reflecting their varied business structures, cultures, values and the roles they play in the ecosystem. Most of the topics we discussed will already be on your agenda. Hopefully these summaries can act as simple reminders to support your management conversations.