Is it smart to invest in soft skills?

It’s a grim picture out there in job world as the ANZ bank follows Westpac in announcing that it will shed 1,000 jobs by the end of the year – hardly surprising given the backdrop of global economic stress and a more cautionary approach to debt from business and households.

Should all organisations downsize themselves in sympathy? Is it wise to make investments in this environment? What is the smart thing to do?

Every business wants to increase its margins by growing revenue, cutting costs or reducing the cost of capital. This sounds like a stretch when the economy is crapping out. And we are awash with buzzwords like innovation and productivity that have all the reverence of a Holy Grail.

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