The current downturn has left many companies scrambling to manage workplace issues — ranging from how to avoid a brain drain to how they can provide better value to customers and clients. Employees, for their part, face the challenges that arise from working in a leaner organization that demands increased productivity with fewer resources. Knowledge at Wharton talked about these issues with Peter Cappelli , Wharton management professor and director of the school’s Center for Human Resources , and Philip Miscimarra, a partner in the labor and employment practice in the Chicago office of law firm Morgan, Lewis & Bockius, co-chair of the Morgan Lewis/Workforce Change practice, and managing director of Wharton’s Center for Human Resources research advisory group. An edited transcript of the conversation follows.

Knowledge at Wharton : Peter and Phil, thanks for joining us.

I’m going to start off with a general question.…