How have HR strategies and leadership development at Ernst & Young been affected by the economic crisis?
A The importance of talent retention and development does not diminish in a crisis. In fact, the ability to focus on our HR strategies will differentiate and keep us ahead of the competition when the eventual economic upturn arrives. Honest and open two-way communication had played a critical role in ensuring that we, as a firm, stay focused on our goals during tough times. At Ernst & Young, we have a formal leadership development framework, which ensures that there is consistency in the way we develop our leaders across the region. The framework is important as it provides consistent criteria to identify leaders, who attend the same development courses and enrich one another with their experiences as leaders in their respective countries and service lines. The role of leaders is made all the more important in tough times, so we cannot afford to stand still. In fact, there are opportunities to capitalise on the pool of readily available talent in the market as a result of the crisis, a
