Hello Garima,
I have got few snippets for you, only if you can amplify them: -
1. The current economic crisis has divided the IR (world over) in few segments: - (you will need to expand these)
(a) IR in Public Sector which is comparatively safe in the hands of unions and layoffs is still not easy (moreso in democratic coutries like India).
(b) IR in corporations/establishments/Production houses, which are more dependant on production of some hardware / parts thereto or some software. These houses are relatively still better off in recession and may not be doomed, so workers are still their company's worth.
(c) Companies, which are on sound financial footing and looking for bright future have relatively a bright IR perspective.
(d) IR is in purple patch with most of the desk oriented, white collared job companies dependant on credit money with nothing in production of their own.
2. The basic objectives and functions of IR are at variance in all the above scenarios. Also the major components of IR have different roles to play, if you mention CB, Recruitment, Trade Unions, HR Policies etc, all are dependant upon their present economic footing and longterm/shorterm policies for survival.
3. This is to say IR will dramatically change with financial/economic condition of a corporate and traditional IR concepts may be temporarily set aside.