Challenges faced by human resource management during the recession in TCS Submitted to Submitted by Abhay Singh BM-09005 Gaurav Agrawal BM-09074 Gaurav Saxena BM-09077 Raghvendra BM-09160 Shalini Srivastava BM-09192 Shikha Srivastava BM-09196 Shraddha Suman BM-09202 Dr. S.R.Dash
Tata Consultancy Services Limited (TCS) is a software services and consulting company headquartered in Mumbai, India.
TCS is the largest provider of Information Technology and business process outsourcing services in India.
The company is listed on the National Stock Exchange and Bombay Stock Exchange of India.
INTRODUCTION Contd…. Tata Consultancy Services (TCS) is a truly global company. It has: Mission-To help customers achieve their business objectives by providing innovative ,best in the class consulting, IT solutions and services. Vision- To be among the global top 10 by end of 2010. Values- Integrity, Leading change, Excellence, Respect for the individual, Learning and sharing.
RECESSION A recession is a decline in a country's gross domestic product (GDP) growth for two or more consecutive quarters of a year
REASON FOR THE CURRENT RECESSION& IMPACT ON IT INDUSTRY
The defaults on sub-prime mortgages (home loan defaults) have led to a major crisis in the US. Sub-prime is a high risk debt offered to people with poor credit worthiness or unstable incomes.
Indian IT sector is highly dependent on US Clients hence the slowdown in US economic activities also effected the Indian IT industry.
The US clients took a cautious approach and postponed all projects as a result of Financial Crunch.
Due to the slowdown in US economy many Indian IT professionals suffered layoffs and salary cut .
EMPLOYEES ARE THE REAL ASSETS OF AN IT ORGANIZATION IT sector is completely a service sector and performance of an IT organization is based on the performance of its employees.
Major Challenges In Modern Human Resource Management
Changed employee expectation
Outsourcing HR activities
Managing HR activities ethical
Balancing work life
Challenges faced by HRM in TCS during recession The major challenges faced by HRM during recession in TCS are- Contingency Plan Brainstorming Flow of communication Calm Atmosphere Evaluate Employee Performance Advice Managers
The biggest problem of HRM is how to keep TCS employees with the organization and away from the competitors during tough economic times.
Differentiate between good and average employee.
Redirect employees to other departments Job Rotation)
Listen to employees
Keep them motivated and busy
Show them the long term vision.
The above steps are taken by HRM to hold its team together during a recession, and will even make bond between all of you stronger. Employees should be motivated enough to stick to the employer during tough times and put in the extra effort required for the organization growth.
HR is still more focused on transactional activities and HR operating efficiencies than on high levelstrategic people issues.
However, the executives concern about people is not translated into increasing importance for HR, in fact, the HR function, which executives believe is concerned with activities such as reward and benefits, performance evalutions and HR operating efficiencies are often seen as being unconnected with how a business will deal with key strategic HRM challenges such as talent management, workforce productivity and leadership development
On the other hand the HRM function has to find innovative solutions for the following topics.
Identifying the real key employees and to keep them in the organization.
Identifying the real top potentials and to strengthen their development program.
The second two topics have to be done at the minimum costs and it is a really hard task to accomplish the HRM function has to have priorities in mind and the strategic impact of the HRM function is not to cut the costs for the time being, but to make the organization stronger and ready for the future growth.
In any organization the main task is people handling. Because the main task is to manage people , who are the main assets of any organization and they are the person who fulfill the ultimate goal of the company, that is to attain maximum profitability and sustain growth.
Somebody say a very nice saying that,” when you are an employee success definition for you to grow yourself but at the time when you become an leader the definition of success is to grow others
. For any organization the HR has main challenge and that is to satisfy the employees and motivate them to continuously learn and make them reliable for the employer and make them consistent. HR of TCS have faced biggest challenge to make possibly feel to employee that there is an instrumentality between organization and the employees growth rate.
HR department is the main power of any organization because these are the persons who manage people because ultimately man are the only one who are responsible for any result in any organization.