Dear All,
I have a query related to the present scenario. Due to this financial crunch, many companies have opted for pay cuts, retrenchment, and stopped hiring employees from outside. What other strategies are companies adopting to fight this crisis? The same with marketing.
Shipra
From India, Delhi
Acknowledge(0)
Amend(0)
4I have a query related to the present scenario. Due to this financial crunch, many companies have opted for pay cuts, retrenchment, and stopped hiring employees from outside. What other strategies are companies adopting to fight this crisis? The same with marketing.
Shipra
From India, Delhi
Acknowledge(0)Amend(0)
In Marketing, the managers are adopting certain strategies like reducing the cost of production, selling products at reasonable prices with a high service motive, efficient use of resources, ensuring raw material supply, and many others.
On the other hand, in HR, they are focusing on making efficient use of Human Capital, implementing retrenchment, laying off employees, completing projects within deadlines, and increasing working hours, etc.
They can reduce the salary of the top management and retain some employees with this money. They can also reduce the salaries of employees and retain others without the need for retrenchment.
From India, Hyderabad
Acknowledge(0)Amend(0)
On the other hand, in HR, they are focusing on making efficient use of Human Capital, implementing retrenchment, laying off employees, completing projects within deadlines, and increasing working hours, etc.
They can reduce the salary of the top management and retain some employees with this money. They can also reduce the salaries of employees and retain others without the need for retrenchment.
From India, Hyderabad
Acknowledge(0)Amend(0)
Hi Anil,
I want to know why an employee should stay when their salary is cut and that part is given to someone else. None of the employees would accept this. This policy is, in a way, encouraging quitting the job on the part of employees, thereby increasing the attrition rate.
If the company cuts the salary of all employees in a certain department, then it would not raise much resentment and would be justifiable on their part as well.
Long working hours make some sense.
From India, Delhi
Acknowledge(0)Amend(0)
I want to know why an employee should stay when their salary is cut and that part is given to someone else. None of the employees would accept this. This policy is, in a way, encouraging quitting the job on the part of employees, thereby increasing the attrition rate.
If the company cuts the salary of all employees in a certain department, then it would not raise much resentment and would be justifiable on their part as well.
Long working hours make some sense.
From India, Delhi
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Innovative HR Practices-.doc