Thinking about the important things that happened in 2008, I think it’s appropriate to invoke James Carville. “It’s the economy, stupid.” Pretty much everyone knows we’re in a recession. A recession that’s changed everything.
With that in mind, here are the Top 10 Events of 2008 That Will Shape HR in 2009.
- U.S. Presidential Election
We elected Barack Obama, an African American, president. Hillary Clinton, a woman, ran against him for the Democratic nomination. Sarah Palin, another woman, was on the Republican slate as the Vice Presidential candidate.
DIVERSITY, TALENT MANAGEMENT, LEADERSHIP. - AIG Bailout
The U.S. Government provided AIG with about $150 Billion to rescue it from collapsing. The reasons for AIG’s decline are complex. There were allegations of wrong-doing. Our economy had survived Enron. Large companies had failed before. This was different. It triggered a wide-spread loss of consumer, investor, and employee confidence.
ETHICS & SUSTAINABILITY, BENEFITS, STAFFING, TALENT MANAGEMENT, BUSINESS PARTNER - Votes on Gay Marriage
Californians began performing same sex marriages in June then voted to outlaw it in November. Connecticut legalized gay marriage.
DIVERSITY, BENEFITS - Smartphone Sales Skyrocket
2008 U.S. Sales of smartphones grew at a rate of more than 70% each quarter over the corresponding quarter in 2007. Comparable global growth rates were in the range of 10-20% – still huge in a stagnant economy. More people are more connected than ever.
HR TECHNOLOGY, BUSINESS PARTNER, ORGANIZATIONAL & EMPLOYEE DEVELOPMENT - Tina Fey!
The uber-talented Tina Fey parlayed her Sarah Palin likeness and her considerable imitation skills into huge fame, a multi-million dollar book deal and a second stint on SNL. Oh, and she also won and Emmy for 30 Rock. In case anyone missed it, she capitalized on a golden opportunity.
TALENT MANAGEMENT, LEADERSHIP, COMPENSATION, BUSINESS PARTNER - Something Rotten in Albany, Springfield, and…
NY Governor Eliot Spitzer resigned after admitting being involved with a prostitute. Illinois Governor Rod Blagojevich was accused of selling Barack Obama’s senate seat. Detroit’s mayor, Kwame Kilpatrick, was indicted on eight felony charges, including perjury, obstruction of justice, conspiracy to obstruct justice, and misconduct in office because of an affair. Secretary of Housing and Urban Development, Alphonso Jackson, resigned as federal investigators looked into accusations that he steered housing contracts to friends.
ETHICS, ETHICS, ETHICS (and LEADERSHIP) - Housing Bubble Bursts
Unprecedented rise in housing prices. Unqualified borrowers. Subprime mortgages. Credit crunch. Foreclosures. Economic crisis. Pop.
BENEFITS, ETHICS & SUSTAINABILITY - In With Marijuana, Out With Trans Fats
Michigan legalizes medicinal marijuana. Massachusetts decriminalizes marijuana. And, liberal California bans trans fats. I won’t even try to figure this one out.
BENEFITS (CDHP) - Wall Street Bonuses
Executive pay was all over the news. All of a sudden, everyone is a comp. designer. Now that we’re using our tax money to save some of these companies, the government is taking an interest too.
COMPENSATION, STAFFING, TALENT MANAGEMENT, ETHICS - Unemployment Rate Highest in 26 Years
The unemployment rate is above 6.7 percent and it’s rising steadily. It’s higher than it’s been since 1982. The scary thing –- people don’t like to RIF people before Christmas. Beware the Ides of January.
EMPLOYEE RELATIONS, LABOR RELATIONS, TALENT MANAGEMENT, BENEFITS, COMPENSATION, STAFFING, BUSINESS PARTNER, LEADERSHIP, ETHICS & SUSTAINABILITY
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