Persistent inflation, a nascent recession and even trickle-down damage from FTX’s collapse are serving as stress tests for the C-suite, exposing leaders’ skills for better or worse. As boards decide whether to retrench or approve major new growth initiatives, they’re also deciding whether current executives are capable of navigating either path.

Identifying your strongest candidates for department head, director or other top management positions is tough at the best of times. Now, as the Great Resignation gives way to what appears to be a looming recession, the task will only get harder for CEOs.

Yet there’s an upside to a turbulent economy: It pulls the curtain back on up-and-coming leadership talent. Tumult tends to bring out the best in your most promising people, allowing them to demonstrate their skill and resourcefulness – and allowing you to identify the rising stars.

These are convulsive times for business. Labor and supply shortages mean work isn’t getting done. The Great Resignation has left companies light on senior talent. And as market gyrations fan worries about the economy, everyone is afraid of making the wrong C-suite hire, especially at fast-growth firms.

People hoping to break into the upper ranks of management often lament that it’s a revolving door of the same old candidates. Not so.

The Great Resignation has thinned the ranks. An era of specialty has led to a shortage of experienced general managers. And every company is on the hunt for A-level talent to diversify its leadership team.