HR Strategy - Essay Example

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At the first mention of “recession,” the initial reaction of most people, executives included, is that of fear of having to take a pay cut or losing their jobs. There is nothing like the prospects of a contracting economy to create a feeling of fear that could impact…
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HR Strategy
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Download file to see previous pages It meant laying off part of the work force, sometimes indiscriminately as far as the employees’ functions were concerned, amounting to a hermorrhage of critical talent the company sorely needed to recover.
This time around, during the financial crisis of 2007 and the subsequent recession, human resources managers are approaching their task of rationalizing their company’s workforce with a greater view towards the subsequent repercussions. This paper shall examine how human resources planning, flexibility, and recruitment take place in the context of an economic recession.
According to Goss, recessions and trade crises enhance the challenges of the international competitive environment. Emphasis in planning shifted to survival mode and generally aimed at coping, resuting in downsizing, finding greater efficiencies, building ‘leaner and fitter’ organizations. It meant lay-offs, rethinking production processes and rationalizing them, and improving managerial control mechanisms. Industries undergo a “shake-out” where some leading companies, because they were debt-ridden, fall out, new leaders (usually those less leveraged and more cash-rich) emerge, and the fittest who survive move up. Emphasis was placed on value in all expenditures.
Clements reported on the result of a recent survey conducted among HR managers, directors and professionals. Some firms saw opportunity in the crisis situation, and aimed not only at coping but in taking advantage of the situation to restructure and consolidate for the eventual recovery which is sure to happen sooner or later. Organizations in general became flatter, with emphasis placed on flexibility, adaptiveness and change, decentralization and devolution of responsibility to cost and profit centres, and a hard look at the strengths and weaknesses that impacted upon the effectiveness of the organization. Management of people tended towards greater participation and commitment, ...Download file to see next pagesRead More
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