3 Signs That Will Identify Someone With Good Leadership Skills in a Downturn

3 Signs That Will Identify Someone With Good Leadership Skills in a Downturn

3 Signs That Will Identify Someone With Good Leadership Skills in a Downturn

Staying afloat amid hrinking budgets, layoffs, and shaky cash flows.

By Marcel Schwantes , Founder and Chief Human Officer, Leadership From the Core@MarcelSchwantes

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How many times have you heard the phrase "these uncertain times" in the past few months? If you answered "more times than I can count," you're not alone.

It may sound cliche, but the sentiment still rings true: the lasting effects of a global pandemic on our businesses, economies, and daily lives are widely unknown.

What we do know is that major industries like tourism, hospitality, dining, and more are taking an immediate hit and unemployment numbers are at an all-time high. We seem to be squarely in the midst of an economic downturn.

But, while the cause is new to us, economic hardship, shrinking budgets, and shaky cash flows are something many business leaders have had to contend with, and with each new challenge, they gain valuable insight into staying afloat. That in mind, I connected with seasoned CEOs from three major businesses to get their best tips for surviving an economic downturn.

Invest in your people.

While this may be his first pandemic, this isn't the first economic downturn