Seeking Creative Ideas for HR Policies During Economic Downturn – Can You Help?

Hello and good morning to all seniors,

This is Shimit Mathur. I am currently pursuing my MBA in HR and also working on my external project on ECONOMIC DOWNFALL-HR POLICIES. An external project means that I am working on it independently. It is progressing well, but I also require your inputs to enhance my knowledge. I do not need any PowerPoint presentations or documents; I simply need your suggestions and out-of-the-box ideas to enrich my understanding and successfully complete my project.

Please assist me with this.

Thank you all,

Shimit P. Mathur

I have just started my project and everywhere I'm getting the same response. I didn't expect this response from the site HR. Still, I'm waiting.

Hi,

I feel that HR should play a very proactive role in this economic downturn. HR should focus on strengthening the available asset (employee) and providing the necessary support to enhance employee skills if they are not performing up to standards. Retaining top talent is crucial, and another key focus should be on cost reduction without negatively impacting employees.

I have shared my suggestions, hoping they will contribute to your knowledge base.

Best regards,
KB

Hello, Mr. Jhanwar. I might not be aware that it has already been discussed, but I still need fresh ideas from people and not PowerPoint attachments. Please help me out with this!

Dear Shimit,

As an HR professional, one should, in this time of recession, concentrate on increasing operational efficiency. HR should focus more on indirect compensation. Additionally, HR should try to release underutilized or unutilized corporate properties.

These are my suggestions; I hope they provide you with some guidance.

Regards,
Octavious

Hi Friend,

I have completed my winter project on the topic "HR Response to the Global Meltdown." I am attaching it. Please find it attached.

Regards,
Yasin Patel

Dear Shimit,

HR plays a pivotal role in this time. They need to tighten the policies and also counsel the staff about keeping the organizational climate conducive because, at times, apart from monetary aspects, the organizational climate will influence the associates. They will feel proud that they are at least a part of the esteemed organization and will not feel low. Indirectly, this would lead to higher productivity and increased concentration levels.

Regards,
Naresh

It's good that you're doing the project with your own interest. However, when you are choosing the area, it should be specific what you want in the project. Simply saying you want an out-of-the-box idea makes it quite difficult to approach. In my point of view, you should consider many things like job stress levels in the current scenario, human resource planning, performance appraisal, career and succession planning, HRD, health and safety, and teamwork.

HR in a recession has a significant role to play. First of all, it's about employee empowerment and engagement. This is often a neglected issue as many companies are in the process of downsizing. However, these two strategies serve as an escape boat for them, as companies can identify the loyal and promising employees.

Shipra