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Plc vs elc

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Product Life Cycle vs. Employees Life Cycle

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Plc vs elc

  1. 1. PINK SLIP MANAGEMENT ~ SANDESH GHOSAL1 IIPM AHMEDABAD 09-11
  2. 2. PINK SLIP Pink Slip – refers to being fired or laid off from one’s job Cutting cost Mantra – anyone’s head could be on the block Causes defiance, antagonism, trauma, disappointment, frustration, etc. India – lay offs not common, leads to psychological tension Retrenched employees – worried about EMIs 2 IIPM AHMEDABAD 09-11
  3. 3. PINK SLIP LIST NAME OF THE SECTOR JOB LOSSES Export Sector 30,00,000 Engineering Sector 1,00,000 NAME OF THE COMPANY JOB LOSSES Air India 15,000 (offer to non-operational staff) Jet Airways 1900 (reinstated by the company) Satyam 1500 Wipro 1000 TCS 500 Patni Computers 400 Kingfisher 300 Virtusa 200 Source: Business World, November 3, 20083 IIPM AHMEDABAD 09-11
  4. 4. PRODUCT LIFE CYCLE vs. EMPLOYEE LIFE CYCLEPARTICULARS PLC PARTICULARS ELC Introduction • Heavy Operational cost Induction • Period of slow performance • Lot of promotional • Lots of developmental & activities supporting activities Growth • Product fully accepted Development • High performance & • Profit enhancement productivity realized. • Aiming @ improve • Sales high & improve knowledge, sharpen skills & revenues mold attitude • Less amount of • More Managerial Level promotional activities Maturity • Sales growth decline Promotion • Reward & recognition • Product realized – • Job Enrichment & higher prospective buyer responsibilities • Promotional activities • Look for higher tasks withdrawn • Training play minor role4 IIPM AHMEDABAD 09-11
  5. 5. . . . contdPARTICULARS PLC PARTICULARS ELC Decline • Sales demonstrate Retire/Retrenchment • Gives up work declining flow & profits • Sometimes earlier, early • Product withdrawn retirement incentive plans • Employee can’t predict when his life will be end Recession times – prepare mentally & physically for layoffs 5 IIPM AHMEDABAD 09-11
  6. 6. ROLE OF HR DEPARMENT IN MANAGING PINK SLIP Associate line managers – retrenchment & retention strategies Be voice for employees – find effective solutions Enhance retained employees Compensate employees – quality output 6 IIPM AHMEDABAD 09-11
  7. 7. PINK SLIP MANAGEMENT Accept the possibility of receiving pink slip Study Report – 20% workers able to sustain their families. Make habit of saving money for unforeseen events Cutback on superfluous expenses Search for an alternative job 7 IIPM AHMEDABAD 09-11
  8. 8. PINK CONCLUSION Knowledge era – keep updated, have learning attitude – will help during recessionary times Financial Experts – keep adequate bank balance & liquid cash to meet expenses & EMIs B-Schools Today – introduce specialization like lay – off management or pink slip management B-Schools – they should taught how to manage yourself during recession times Tackle pink slip – don’t think why “me”, go for other options, search job sites of your sector, maintain positive attitude Consider it as an opportunity 8 IIPM AHMEDABAD 09-11
  9. 9. 9 IIPM AHMEDABAD 09-11

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