As we near the record for the longest economic expansion in US history, many forward-thinking leaders are beginning to prepare accordingly. With almost 10 years of upward momentum it’s easy to begin feeling invincible and not fully understand what may be coming.
Recently, I’ve had more conversations with wise leaders who do have experience with recessions. Many of these leaders are wisely preparing their people for the future.
Although the workload may be heavy at this moment the odds are that within the next 24 months we will begin to see economic corrections.
Proverbs 22:3 says, “The prudent see danger and take refuge, but the simple keep going and pay the penalty.”
Managing your overhead and staffing expense carefully now may allow you to avoid having to terminate staff later.