impact of recession on H.R in India

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impact of recession on H.R in India

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

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