The financial crisis which has spiraled into a global economic slowdown is unparalleled in modern times. In terms of its breadth, depth and global impact, this crisis can only be compared to the great depression of 1936. The worst affected sector and the trigger, i.e. financial services, has seen household names crumble like a pack of cards. As the sector was not only the most high profile but also highly rewarding, it had always attracted the best talent available. So these were tough times for the people working in financial services, who walked a fine line between managing high potential talent and delivering bad news in individual cases.
Based on discussions at a breakfast panel session hosted by Egon Zehnder International and moderated by
Namrita Jhangiani and
Sanjiv Sachar, this short publication shares the experiences of human resource leaders who found themselves at the eye of the storm. It considers the situations they faced, the broad approaches they adopted and the lessons they learned from this once-in-a-lifetime experience.
