INTRODUCTION TO RECESSION
EFFECTS OF RECESSION
LAYOFF VS RETENTION
TRAINING TO BEAT RECESSION
OTHER COST EFFECTIVE METHODS OF TRAINING:
(b) COACHING & MENTORING
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In economics, the term recession describes the reduction of a
country's gross domestic product(GDP) for at least two quarters. The usual
dictionary definition is "a period of reduced economic activity", a business
The US-based National Bureau of Economic Research (NBER)
defines economic recession as: "a significant decline in the economic activity
spread across the country, lasting more than a few months, normally visible
in real GDP growth, real personal income, employment (non-farm payrolls),
industrial production, and wholesale-retail sales.”
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CAUSES OF RECESSION:
EFFECTS OF RECESSION:
Deflation (or disinflation)
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• According to ILO, global unemployment in
2009 could increase over 2007 by a range
of 18 million to 30 million workers, and
more than 50 million if the situation
continues to deteriorate.
• The ILO report also said that in this last
scenario some 200 million workers, mostly
in developing economies, could be pushed
into extreme poverty.
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Instead of laying off, the employees can be
retained to get fruitful results in future.
Cut non-performing employees to part time basis.
Cut salary of high paid employees to make
impact on the bottom line.
Short term layoff of high paid employees.
Working day cut to 4 days per week.
Training lower paid employees to do higher level
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Training the existing human Resource and enhance their skill set
to get more revenue in other fields.
Improve loyalty and moral of old employees.
Improve leadership skill by training
Encourage internal training rather then getting external training to
Motivate old employees and help them match their individual
goals with organizational goals.
Talking advantage of multi talented and skilled employees in order
to control valuable expenses. This also improves relationship with
our old valuable employees.
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COST EFFECTIVE METHODS OF
TRAINING TO BEAT RECESSION
The employees should be motivated so as to link their
personal goals with the organizational goals.
People without personal goals tend t move towards
negativity. If negativity is lock- motivation is the key
Maslow’s theory of motivation can be of get help in this
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COACHING AND MENTORING
Coaching and Mentoring foresters win-win relationship
between the employer and employee.
Helps the employee to achieve his personal goals along
with the organizational.
It improves personal leadership of an individual.
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