Recession & Training

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Recession & Training

  1. 1. HOW TRAINING CAN HELP IN 1 FIGHTING RECESSION
  2. 2.  INTRODUCTION TO RECESSION  EFFECTS OF RECESSION  UNEMPLOYMENT  LAYOFF VS RETENTION  TRAINING TO BEAT RECESSION  OTHER COST EFFECTIVE METHODS OF TRAINING: (a) MOTIVATION (b) COACHING & MENTORING HOW TRAINING CAN HELP IN 2 FIGHTING RECESSION
  3. 3. DEFINITION:  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 cycle contraction.  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.” HOW TRAINING CAN HELP IN 3 FIGHTING RECESSION
  4. 4. CAUSES OF RECESSION:  Currency crisis  Energy crisis  War  Under consumption  Overproduction  Financial crisis EFFECTS OF RECESSION:  Bankruptcies  Credit crunches  Deflation (or disinflation)  Foreclosures  Unemployment HOW TRAINING CAN HELP IN 4 FIGHTING RECESSION
  5. 5. • 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. HOW TRAINING CAN HELP IN 5 FIGHTING RECESSION
  6. 6. HOW TRAINING CAN HELP IN 6 FIGHTING RECESSION
  7. 7. HOW TRAINING CAN HELP IN 7 FIGHTING RECESSION
  8. 8.  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.  Job sharing  Training lower paid employees to do higher level work. HOW TRAINING CAN HELP IN 8 FIGHTING RECESSION
  9. 9.  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 cut cost.  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. HOW TRAINING CAN HELP IN 9 FIGHTING RECESSION
  10. 10. COST EFFECTIVE METHODS OF TRAINING TO BEAT RECESSION MOTIVATION  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 context. HOW TRAINING CAN HELP IN 10 FIGHTING RECESSION
  11. 11. 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. HOW TRAINING CAN HELP IN 11 FIGHTING RECESSION
  12. 12. HOW TRAINING CAN HELP IN 12 FIGHTING RECESSION

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