How the recession has changed interview questions on Dec 15, I had lunch recently with the HR Director of a well known Irish company to share her views on the importance of interviews in the modern selection process.
As the recession is affecting everything related to market, revenue, jobs, profits etc, it is affecting the interview questions as well. Today we are here with some recession oriented question which is generally asked by interviewers.
Q1 — What makes you look out for a job change in this critical recession time? Q2 — Would you be compromise on your salary package or role or both, if required, in the future? Through this question interviewer trying to know that how flexible you are for possible future changes and your orientation to the reality in the market.
Show your willingness towards above situation or be upfront with your views. Q3 — What you think how secure your current job is during current market condition? Interviewer asks this question to understand the standing of the candidate in the previous job.
Try to explain them about your role and responsibility in your current job and show them how important key player for your current team. Q4 — How did you manage your team members during times of recession, when you had to let go of some people?
You can talk about ways you handled the team dynamics sensitively and share experience of how you went decided through the dilemma of the process. Also, explain how you chose team members that had to be axed and how you conveyed those to your team members. Q5 — What is the difference between recession and a slowdown?
The GDP is the total value of the goods and services produced over a designated period. An economy that is growing is expected to increase its GDP. An economic slowdown happens when the rate of growth which is still positive decreases.
The traditional definition of a recession is when the GDP is negative for two quarters in a row. A depression is loosely defined as a severe recession.The impact of a recession on small businesses that have annual sales substantially less than the Fortune and that are not public companies is similar to large businesses.
Those who are able to adapt their business models to contain costs and maintain regulatory compliance will be most viable. And although investor confidence in biotechnology is on the rise, the funding levels are still below pre-recession figures. Interview questions.
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