--- title: Why Talent Intelligence is more important in a period of economic uncertainty than in a period of growth description: During times of economic uncertainty, businesses often look to cut costs by consolidating. However, there's a more strategic approach they should consider - focusing on having the right capabilities in the right place through Talent Intelligence. image: https://www.stratigens.com/hubfs/economic%20downturn%20blog%20image-2.jpg --- Close - Solutions - Solutions - [Platform](https://www.stratigens.com/software) - [Business challenges we solve](https://www.stratigens.com/join-the-dots) - [Talent intelligence consultancy](https://talentintuition.com/) - [Setting up your TI team](https://www.stratigens.com/ti-function) - [Partners](https://www.stratigens.com/partners) - [Pricing](https://www.stratigens.com/pricing) - [Clients](https://www.stratigens.com/clients) - About Us - Learn more about us - [Insights](https://www.stratigens.com/insights) - [News](https://www.stratigens.com/news) SEARCH CONTACT PHONE HOTLINE: [+49 (0) 89 123 456](tel:+4989123456) E-MAIL: [hello@stratigens.com](mailto:hello@stratigens.com) [BOOK A DEMO](https://www.stratigens.com/book-a-demo) [![logo](https://www.stratigens.com/hs-fs/hubfs/stratigens-strapline-vertical-logo.jpg?width=535&height=435&name=stratigens-strapline-vertical-logo.jpg "logo")](https://www.stratigens.com/) [![StratigensLogo](https://www.stratigens.com/hubfs/StratigensLogo.svg)](https://www.stratigens.com/) - Solutions - Solutions - [Platform](https://www.stratigens.com/software) - [Business challenges we solve](https://www.stratigens.com/join-the-dots) - [Talent intelligence consultancy](https://talentintuition.com/) - [Setting up your TI team](https://www.stratigens.com/ti-function) - [Partners](https://www.stratigens.com/partners) - [Pricing](https://www.stratigens.com/pricing) - [Clients](https://www.stratigens.com/clients) - About Us - Learn more about us - [Insights](https://www.stratigens.com/insights) - [News](https://www.stratigens.com/news) #### Free eBook A New Ecosystem of Work explores the 10 factors of talent strategy that matter in the post-pandemic world.  [![DOWNLOAD WHITE PAPER](https://no-cache.hubspot.com/cta/default/9068086/cefec63c-1b0a-4449-8f26-01ae525df4ab.png)](https://cta-redirect.hubspot.com/cta/redirect/9068086/cefec63c-1b0a-4449-8f26-01ae525df4ab) PHONE HOTLINE: [+49 (0) 89 123 456](tel:+4989123456) E-MAIL: [hello@stratigens.com](mailto:hello@stratigens.com) [BOOK A DEMO](https://www.stratigens.com/book-a-demo) [Kelly Morgan](https://www.stratigens.com/insights/author/kelly-morgan) Aug 3 4 min read # Why Talent Intelligence is more important in a period of economic uncertainty than in a period of growth [Previous Post](https://www.stratigens.com/insights/why-now-is-the-time-to-invest-in-your-ta-team-not-reduce-it) [Next Post](https://www.stratigens.com/insights/ticpodcast-anastasiiakolos) **Why Talent Intelligence is more important in a period of economic uncertainty than in a period of growth - it's about risk mitigation at an organisational level** In the ever-changing landscape of business, competitive advantage plays a pivotal role in determining an organisation's success. And one of the key drivers of competitive advantage is talent. But what happens during economic slowdowns? Often, businesses look to reduce costs by consolidating. However, there's a more strategic approach that companies should consider - focusing on having the right capabilities in the right place through Talent Intelligence.   Talent Intelligence goes beyond just seeking low-cost solutions. It involves joining the dots to consider various factors, such as hiring processes, attrition rates, and the cost of talent. It’s about putting access to the skills you need at the heart of your decision making, so you join the dots between labour market, economics, location, strategy and talent. During economic downturns, traditional expectations are higher unemployment rates and a volatile labour market. However, current times have confused economists as trends have diverged from the norm. So, in order to navigate through this uncertainty, businesses must recognise the importance of Talent Intelligence in making strategic decisions. Some organisations may consider Talent Intelligence as just a means to elevate conversations between recruiters and business leaders. But in challenging economic conditions, the real purpose of Talent Intelligence is to mitigate the risks associated with business decisions. In turbulent times, the value of external data becomes even more clear. This data provides vital context and can change rapidly. By leveraging Talent Intelligence with external data, companies can conduct scenario planning and assess the feasibility of their strategies. For instance, understanding whether consolidating in a high-cost market is viable, considering the recovery potential in a low-cost market, is an essential aspect of strategic planning. Companies are accustomed to conducting research on their competitors and markets regularly. However, what's often overlooked is that the most significant asset they possess is their workforce. Talent Intelligence bridges the gap between business strategy and workforce management, providing a deeper understanding of how talent can support and drive business success. To mitigate risk effectively companies should do research on their competitors, their clients, their markets AND access to the availability of the skills they need to deliver their [strategy](https://www.linkedin.com/posts/alison-ettridge_michael-gove-rishi-sunak-and-uk-government-activity-7089242915792658432-8fr3?utm_source=share&utm_medium=member_desktop).   In conclusion, Talent Intelligence is a vital tool for risk mitigation during economic downturns. Rather than solely focusing on cost-cutting measures, businesses must recognise the potential of talent and the right strategic approach to optimise their workforce. Embracing Talent Intelligence and combining it with external data empowers organisations to make well-informed decisions and successfully navigate through uncertain times, ensuring long-term growth and sustainability. ![avatar](https://www.stratigens.com/hs-fs/hubfs/ST_icon_FC-1.jpg?width=290&name=ST_icon_FC-1.jpg) #### [Kelly Morgan](https://www.stratigens.com/insights/author/kelly-morgan) ## RELATED ARTICLES ### [Kelly Morgan Jul 4 6 min read Why now is the time to invest in your TA team, not reduce it The untapped potential of TA and the benefits it can bring in a slower growth period. Start Reading](https://www.stratigens.com/insights/why-now-is-the-time-to-invest-in-your-ta-team-not-reduce-it) ### [Kelly Morgan Oct 12 2 min read Smarter Decisions with Stratigens How can Stratigens help you make smarter decisions? Companies are dealing with changing business and demographic challenges and ... 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Stratcast Ltd is registered in England and Wales, with Company Number 15896792 and Registered Office Wey Court West, Union Road, Farnham, GU9 7PT. ```json { "@context" : "http://schema.org", "@type" : "Organization", "address" : { "@type" : "PostalAddress", "addressCountry" : "Wales", "addressLocality" : "Newport", "addressRegion" : "Newport", "postalCode" : "NP20 1GL", "streetAddress" : "Unit 3.13 Tramshed Tech" }, "email" : "hello@stratigens.com", "knowsLanguage" : "en", "logo" : { "@type" : "ImageObject", "url" : "https://f.hubspotusercontent30.net/hubfs/9068086/StratigensLogo.svg" }, "name" : "Stratigens", "telephone" : "+49 (0) 89 123 456", "url" : "https://www.stratigens.com/insights/why-talent-intelligence-is-more-important-in-a-period-of-economic-uncertainty-than-in-a-period-of-growth" } ``` ```json { "@context" : "http://schema.org", "@type" : "BlogPosting", "abstract" : "During times of economic uncertainty, businesses often look to cut costs by consolidating. However, there's a more strategic approach they should consider - focusing on having the right capabilities in the right place through Talent Intelligence.", "author" : { "@type" : "Person", "name" : "Kelly Morgan" }, "dateModified" : "August 3, 2023 10 AM", "datePublished" : "August 3, 2023 10 AM", "headline" : "Why Talent Intelligence is more important in a period of economic uncertainty than in a period of growth", "image" : "https://9068086.fs1.hubspotusercontent-na1.net/hubfs/9068086/economic%20downturn%20blog%20image-2.jpg", "inLanguage" : "en", "keywords" : "[Blog]", "mainEntityOfPage" : { "@type" : "WebPage" }, "name" : "Why Talent Intelligence is more important in a period of economic uncertainty than in a period of growth", "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://f.hubspotusercontent30.net/hubfs/9068086/StratigensLogo.svg" }, "name" : "Stratigens" }, "text" : "Why Talent Intelligence is more important in a period of economic uncertainty than in a period of growth - it's about risk mitigation at an organisational level In the ever-changing landscape of business, competitive advantage plays a pivotal role in determining an organisation's success. And one of the key drivers of competitive advantage is talent. But what happens during economic slowdowns? Often, businesses look to reduce costs by consolidating. However, there's a more strategic approach that companies should consider - focusing on having the right capabilities in the right place through Talent Intelligence. Talent Intelligence goes beyond just seeking low-cost solutions. It involves joining the dots to consider various factors, such as hiring processes, attrition rates, and the cost of talent. It’s about putting access to the skills you need at the heart of your decision making, so you join the dots between labour market, economics, location, strategy and talent. During economic downturns, traditional expectations are higher unemployment rates and a volatile labour market. However, current times have confused economists as trends have diverged from the norm. So, in order to navigate through this uncertainty, businesses must recognise the importance of Talent Intelligence in making strategic decisions. Some organisations may consider Talent Intelligence as just a means to elevate conversations between recruiters and business leaders. But in challenging economic conditions, the real purpose of Talent Intelligence is to mitigate the risks associated with business decisions. In turbulent times, the value of external data becomes even more clear. This data provides vital context and can change rapidly. By leveraging Talent Intelligence with external data, companies can conduct scenario planning and assess the feasibility of their strategies. For instance, understanding whether consolidating in a high-cost market is viable, considering the recovery potential in a low-cost market, is an essential aspect of strategic planning. Companies are accustomed to conducting research on their competitors and markets regularly. However, what's often overlooked is that the most significant asset they possess is their workforce. Talent Intelligence bridges the gap between business strategy and workforce management, providing a deeper understanding of how talent can support and drive business success. To mitigate risk effectively companies should do research on their competitors, their clients, their markets AND access to the availability of the skills they need to deliver their strategy. In conclusion, Talent Intelligence is a vital tool for risk mitigation during economic downturns. Rather than solely focusing on cost-cutting measures, businesses must recognise the potential of talent and the right strategic approach to optimise their workforce. Embracing Talent Intelligence and combining it with external data empowers organisations to make well-informed decisions and successfully navigate through uncertain times, ensuring long-term growth and sustainability.", "url" : "https://www.stratigens.com/insights/why-talent-intelligence-is-more-important-in-a-period-of-economic-uncertainty-than-in-a-period-of-growth", "wordCount" : "553" } ```