I, of course, do not remember too much of the 70’s since I was very young at the time and still trying to master walking, talking and learning my ABC’s. I do remember being with my dad in line at a gas station and hearing him and my mother worry about how they were going to manage with the cost of inflation. Anyone remember when you had to put 20% down to purchase a home? I sure do because that was always the talk at my home, when my parents finally were able to purchase a home to own themselves, it was a big deal.

The 70’s seem to be in rerun again. Oil seems unstoppable, the ripple of inflation (or stagnation depending which side of the cup you think is full) is now becoming a full blown tidal wave. What happened in the 70’s also need to look at the proceeding 60’s era. Low unemployment, low interest rates, and progress in industrial manufacturing. Then in the 70s people were compounded with the war in Vietnam, Oil and starting to look at pollution and the environment. Doesnt sound all the unfamiliar does it?

What can be taken from history is how some buisness were resilient and some created, some lost in those tough times and how do we as a HR industry learn from the past and make the future even brighter?

-In the toughest times, ingenuity always wins. Take Bill Gates, a prodigal of the 70’s, who know in 2008 he would retire as one of the iconic businessmen / Software developer of all time. When companies are looking how best to stretch the dollar, be there with ideas. When they dont have ideas, find your own and make something from it.

-Find your way around the middleman - whom ever he or she maybe. In trying to get healthier, I have been told by a nutritionist that I should shop at the grocery store on the outer perimeter. Dont shop down the isle. You see the perimeter has all the basics. Bread, Meat, Dairy and Produce. This will keep down your grocery bill and also keep you from spending money on needless preservative and high calorie foods. So – I ask, who is your middle man? What can you do to for your company to eliminate those additional costs and just do business around the perimeter.   

-Network more than you ever have before. You see one of the keys to many making through the 70’s was networking, just not in the way you think of it. Someone in the neighborhood had to drive and run an errand, and let everyone know to see if there were items they needed or would like to come along and share a ride. Some planted gardens and shared, in returned recieved something they were in need of. Yes, money is the key to buying power, but it isnt the spark that makes something run, or the door to unlock. It is that personal involvement in the lives of others and communicating and sharing of resources that makes even the roughest of spots easier to navigate. Your network is your most powerful tool in this trying time. You can reach out to them and maybe find an opportunity you didnt realize was available. Never leave any stone unturned and never let your network grow cold and always remember to give back when you can.