Final answer:
During a recessionary period, HR managers face various challenges, but increasing compensation packages is not one of them.
Step-by-step explanation:
The correct answer is E. increase compensation packages. During a recessionary period, firms often face financial difficulties and need to cut costs in order to survive. This typically involves reducing employee compensation, including wages and benefits, rather than increasing them. It is important for HR managers to focus on planning and implementing employee layoffs, seeking wage concessions, facilitating employee counseling, and formulating crisis management policies during a recession, as these are the main challenges they are likely to face.