Issue link: https://www.e-digitaleditions.com/i/65226
The European Market Recession Redux? If Europe suffers another slowdown, whither HRO? By Russ Banham The economic news from Europe is rarely good these days. Questions have abounded, chief amongst them whether or not Greece would bow to the pressures of the European Union and commit to austerity measures. While the country appeared poised to implement such policies as of early March, much of the populace took to the streets in protest. With the Great Recession still smoldering in the background, the possibility that these embers might reignite another economic conflagration has had HRO providers preparing for the worst. Long-term objectives depend on a degree of certainty, and in the current environment a five-year strategic plan seems an exercise in little more than hope. Yet stasis is no solution. So what are HRO providers and advisory firms doing and recommending in the uncertain climate? Where do these observers think the markets are headed? What are the barriers to planning and progress? And how might those obstacles be overcome? Talent in Tight Times If Europe is bound for another recession, how would that affect talent recruitment objectives? Will we see a continued migration of jobs to the so-called BRIC economies of Brazil, Russia, India, and China? What would be the impact of such a migration? The notion of people leaving for better jobs elsewhere is neither new nor surprising. As Henry Barenholz, senior director of global BPO at HR software provider Oracle, put it, "Throughout the [20] HRO TODAY GLOBAL | WINTER 2012