4 Tariffs for Creating Talent Loyalty

Anyone who took even a rudimentary economics class in college understands the basic ebbs and flows of the world’s economies. Even if a person hasn’t taken any courses in economics, today’s news makes it’s impossible not to hear about tariffs, the war on trade, and international business relations cycles.

Economic “boom” and “bust” cycles — aka, expansions and contractions–are the natural state of national and even global economies. As is the human condition; when the economy contracts, everyone wants to blame someone or something. What most don’t know is that according to the National Bureau of Economic Research, in the United States, there were 33 business cycles between 1854 and 2009 with each full cycle lasting an average of roughly 56 months. America averaged 38.7 months in expansion and 17.5 months in contraction between 1854 and 2009.

However, just because we know that cycles occur in business, doesn’t mean we’re actually preparing for the worse. Because times have been good, we’d all like to think that they will keep going on forever, but the truth is they won’t. You don’t have to be a member of Mensa to know that on every possible level we’re living in a time of massive disruption. What you’re doing in an “up market” probably isn’t going to work in a “down market.” It’s time to recognize this and start making changes.