please rewrite making a smooth cohesive paragraph. Make sure the references remain

Considering the economic downturn, McKinsey & Co. should focus on several strategic HR issues to maintain resilience and competitiveness. First, diversifying the client base is crucial to mitigate risks associated with over-reliance on a few key clients, similar to the challenges faced by PAC Resources (Mello, 2018). This involves expanding into new markets and sectors, which requires strategic workforce planning and development. Second, maintaining employee morale and engagement during hiring freezes or budget cuts is essential. Implementing robust communication strategies and providing opportunities for skill development can help sustain motivation and productivity (Dessler, 2019). Lastly, aligning HR practices with strategic goals ensures the workforce is adaptable and prepared for changes, supporting organizational agility and long-term success. By addressing these issues, McKinsey & Co. can better navigate economic challenges and emerge stronger. Consulting firms can maintain high-performance standards while addressing reduced client demands by implementing various strategies. According to Mello (2018), investing in employee training and development during economic downturns is crucial for ensuring that firms ER Clete ct MMe Re CNS cM Me mol LRIPAccM BIO ONtelComema ely Ry (0s.4 models, such as part-time roles and project-based work, which allow firms to adjust their workforce without compromising quality. Additionally, performance-based incentives linked to individual contributions during challenging times can help sustain productivity. Strong client engagement and retention are vital for generating repeat business,|while diversifying services can provide a competitive advantage. By effectively managing overcapacity, firms can uphold their performance standards and successfully navigate economic challenges