Many companies are surviving the economic turmoil and looking for opportunities, according to McKinsey Global Survey Results: Economic conditions snapshot, November 2008. In particular, there's a renewed focus on innovation which may be a key driver of economic recovery. Innovation occurs in many ways: the development of new products or services, or in new ways to approach challenges. Here are some interesting examples:

Why an Economic Crisis Could Be the Right Time for Companies to Engage in 'Disruptive Innovation' describes the difference between incremental and disruptive innovation and how real transformation comes from challenging the paradigm with creative destruction, powered by teamwork and human knowledge.

Speaking of teamwork and human knowledge, A New Odd Couple: Google, P&G Swap Workers to Spur Innovation explains how two leaders in completely different markets are doing an informal talent exchange with people in the areas of planning and training.

Assessing innovation metrics: McKinsey Global Survey Results shows that organizations with the highest returns from innovation use metrics to assess innovation more comprehensively.

Employers innovate to reduce job losses shows how European companies are getting creative with alternatives to across the board jobs cuts and retaining their top talent.

And, as we outlined in Don’t Lose Your Head When You Tighten Your Belt:
Upgrading talent says that downturns put your whole talent strategy at jeopardy due to knee-jerk downsizing, but also offer opportunities to upgrade talent and boost your employment brand at a time when top talent becomes available.

What’s the Take on Innovation and Talent Management? Talent Powers Innovation, and is the best way to fuel business performance and value creation.