impact of recession on H.R in India
Transcript of impact of recession on H.R in India
PRESENTER – CHARU SHARMA
CHAIRPERSON - HEERA LAL
REPORTEUR - GAGANPREET KAUR
A recession is a decline in a country’s Gross Domestic Product (GDP) growth for two or more consecutive quarters of a year.
It makes you wiser It makes you think outside
the box A crises bornes a decision
maker out of you It makes you appreciate
what you have It forces change Lowered attrition rate. Higher job satisfaction
level Good people available at
cheaper rates.
Impact of economic slowdown on employment in India.
The emerging challenges of human resource management in the global recession situation.
The strategy adopted by HR personnel to deal with these challenges.
Collapse of Lehman Brothers The collapse of American International
Group (AIG) Bank Collapse of the mortgage lenders
Freddie Mae and Fannie Mae.
Transport Communication Trade Hotels Restaurants
Problem of Recruitment. Managing downsizing program
appropriately. Talent Management. Stress Management. The Return on Recognition in a
Recession. Loss of employment Reduction of income leading to social
distress
Cisco
Lincoln Electrical, Ohio
Hold special meetings Motivate the employees Offering challenging assignments
and opportunities Explain to them the importance of
their existence in jobs Initiate change by identifying key
people Identify the achievers and reward
them
The Terminated The Fearful The Indifferent The Delighted The Apocalyptic The Longers The Engaged
Survivor’s guilt More work, less motivation Rampant rumor mill
Consolidate workforce Streamline salaries Make organizations more
performance-centric Identify real talent Develop talent as leaders Review and restructure policies Build employer brand Communicate and build trust and
morale
Cancellation of several benefit schemes Reduce the number of employees in the
organization Strategic initiatives to increase the
productivity and efficiency of the whole organization
Redesign of the compensation scheme Identifying the real key employees and
to keep them in the organization Identifying the real top potentials and to
strengthen their development program
Contingency plan Brainstorming session Job freeze Employee performance evaluations Flow of Communication should be
from top to down. Individual and group concerns Maintain a calm atmosphere HR policies, processes and
procedures Process of managing change
http://www.hrmreport.com/article/The-Return-on-Recognition-in-a-Recession/
http://empxtrack.com/blog/10/post-recession-challenges-of-talent-management/
http://www.thehindubusinessline.com/manager/2009/04/20/stories/2009042050701000.htm
http://www.itvoir.com/portal/boxx/knowledgebase.asp?iid=1296&Cat=3
http://www.24-7pressrelease.com/press-release/globalhunts-view-on-managing-hr-in-recession-84206.php
http://e-articles.info/e/a/title/Managing-HR-in-Recession/
http://www.citehr.com/142624-managing-hr-recession.html
http://howtomanagehumanresources.blogspot.com/2009_04_01_archive.html
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