An Economic downturn?
It is not surprising that business owners and managers are looking at the economic news and wondering if there should be any contingency plans put in place when leading firms of accountants such as PWC are forecasting increases in insolvencies of over 10% this year.
Having been in recruitment for over 20 years I believe as a business sector we feel the effects of economic downturns before most other sectors.
My belief is that whilst this year will not see as much growth as in recent years, there is nothing to fear for the organisation that has the right product and correct management in place, yes there will be some “fly by night” business that will struggle however that is no bad thing.
This last quarter has been a successful one at Howett Thorpe and the investment we are placing in our people and technology I believe will make us even stronger in 2008. We continually review our business processes to ensure our services reflect the requirements of our clients and I have been delighted in the growth of our Contract, Interim & Temporary division but am pleased to report this not due to clients cutting back on their permanent headcount – a common indicator of a downturn.
