You are here

The top error firms make in a downturn

If they want to remain resilient, Singapore companies must avoid allowing something as controllable as staff engagement to dip during harsh business conditions.

BT_20160427_LCTECON_2246888.jpg
A study of 10,000 staff shows that they have four basic needs they want addressed, to mitigate big psychological stressors when the economic environment is uncertain: Trust, Hope, Compassion and Stability.

BEFORE the recent round of Budget 2016 discussions even opened, analysts cut their GDP growth forecasts for Singapore's economy to 1.9 per cent from 2.2 per cent. While that is consistent with the Ministry of Trade and Industry's (MTI) forecast range of 1-3 per cent growth, if this is realised,