HR Challenges in NBFCs: Are Other Sectors Facing Similar Issues?

Dear Seniors,

I am working as an HR Manager in a domestic NBFC. Being in HR, I'm facing many problems, such as receiving scoldings from the MD daily regarding small issues and experiencing employee dissatisfaction due to salary cuts, among other challenges. I wonder if every HR professional is facing the same situations in various sectors such as IT, pharma, and banking.

Thank you.

Dear Friend Rupavathi,

In every organization, HR managers are facing the same job burnout as you are experiencing now. The current situation is very crucial due to the recession and shrinking profits in any business, while inflation remains untamed, causing the prices of essentials to rise. Consequently, due to lower profits, your management is worried, and your employees are concerned due to the high expenses.

Please understand that, except for a few, more employees are experiencing the same situation and are trying to manage it while assisting the top management in generating good revenue in any possible way to ensure the company's survival.

Furthermore, you should consider acquiring additional useful qualifications, staying updated in your field, being proactive, and last but not least, being an asset to the company.

Wishing you all the best, dear, with prayers.

Regards,
C. Renuka

I request you to look into the areas in isolation, rather than combining them into one issue. Your boss giving you negative feedback is entirely different from the expressions of the employees.

In addition to the contributions made to you by Renuka and Prashant, please consider mine:

- Segment your Manager's feedback into different areas to identify where you need to work.
- Please shift from feeling or emotion-based behavior to facts that can be addressed. If your organization is cutting salaries and your employees are unhappy, it is not your fault. However, you are required to manage a high-conflict situation like that.
- Identify workable areas such as creating the right measures for employee performance and strengthening training programs to enhance employability when salaries are low.
- NBFC is a volatile sector; hence, cycles including rightsizing and compensation variations will remain evident. Please connect with seniors in this sector and understand how they have been managing similar cycles.
- Aim for operational excellence. If your processes remain error-free, you will have fewer areas to complain about.

Please share a little more about your situation so that we can suggest an appropriate solution.