Hi HR professionals,
Recession is every where.All sectors are affected by
it.Employees are losing jobs. Even HR people are losing jobs.:sad:
My question here is : 1) When will this situation change ?
2)What effect this recession will have on HR field and its future ?
3)Will the importance of HR's will be reduced in the coming days as
companies will have less manpower.many companies are not retenting
the employees who are leaving the jobs etc .
Please I expect valuable opiniuns of HR professionals here.
Thanks in advance.
Rajeev Dixit
From India, Bangalore
111Recession is every where.All sectors are affected by
it.Employees are losing jobs. Even HR people are losing jobs.:sad:
My question here is : 1) When will this situation change ?
2)What effect this recession will have on HR field and its future ?
3)Will the importance of HR's will be reduced in the coming days as
companies will have less manpower.many companies are not retenting
the employees who are leaving the jobs etc .
Please I expect valuable opiniuns of HR professionals here.
Thanks in advance.
Rajeev Dixit
From India, Bangalore
Hi,
This is the answer for your question...
CIO’s see economic slowdown ending by Dec
The survey of 467 CIOs across mid-sized & large firms in 18 industries found that their focus was shifting to better management of existing IT infrastructure from building new capacities, IDC said in a statement
Reuters
Mumbai: Most chief information officers (CIOs) of companies in India expect the current economic slowdown to end by December, according to a survey conducted by IT research and consulting firm IDC India.
While about 66% of respondents expect relief from the crisis by end-2009, IDC India said it expects the slowdown to extend and sees a revival in IT
spending after June 2010, due to the macro economic picture and a lag in IT buying.
The survey of 467 CIO’s across mid-sized and large enterprises in 18 industries found that their focus was shifting to better management of existing IT infrastructure from building new capacities, IDC said in a statement.
Companies plan to spend about 20% of the total planned IT expenditure on new purchases in 2009, with the balance reserved for managing the existing set-up, IDC added.
The CIOs surveyed see software-as-a-service, business outsourcing and data warehousing, unified communications, virtualization and open source as the emerging investment priorities in 2009.
For 2009, investments in personal computers, servers and computer peripherals are seen falling 20-40% from last year, directly impacting hardware vendors and off-the-shelf software vendors, according to conclusions from the survey.
Source : http://www.livemint.com/2009/04/0618...n-end.html?h=B
Regards,
Prajith.S
Coimbatore
From India, Madras
This is the answer for your question...
CIO’s see economic slowdown ending by Dec
The survey of 467 CIOs across mid-sized & large firms in 18 industries found that their focus was shifting to better management of existing IT infrastructure from building new capacities, IDC said in a statement
Reuters
Mumbai: Most chief information officers (CIOs) of companies in India expect the current economic slowdown to end by December, according to a survey conducted by IT research and consulting firm IDC India.
While about 66% of respondents expect relief from the crisis by end-2009, IDC India said it expects the slowdown to extend and sees a revival in IT
spending after June 2010, due to the macro economic picture and a lag in IT buying.
The survey of 467 CIO’s across mid-sized and large enterprises in 18 industries found that their focus was shifting to better management of existing IT infrastructure from building new capacities, IDC said in a statement.
Companies plan to spend about 20% of the total planned IT expenditure on new purchases in 2009, with the balance reserved for managing the existing set-up, IDC added.
The CIOs surveyed see software-as-a-service, business outsourcing and data warehousing, unified communications, virtualization and open source as the emerging investment priorities in 2009.
For 2009, investments in personal computers, servers and computer peripherals are seen falling 20-40% from last year, directly impacting hardware vendors and off-the-shelf software vendors, according to conclusions from the survey.
Source : http://www.livemint.com/2009/04/0618...n-end.html?h=B
Regards,
Prajith.S
Coimbatore
From India, Madras
Dear Rajeev,
All it takes is a different approach to the situation.
Such incidents to take place and what we need to do is - prepare a shield to be protective against the Recession bullets!
W cannot ignore the situation. We need to face it.
Anyways directly answering ur question:
1) When will this situation change ?
It has no "defined" period of time.
Just see this situation - If you fall while running and get hurt, and if you are bleeding, what do you do?
A. Cry and ask when will this pain reduce?
B. Cry, then think what can be done to reduce the pain, and apply medicine on the wound and take a pain killer?
Which one would u chose? The second one right? I would go for the B option.
So the recession will come to an end, wen we (both Corporate and individual) take measures to be recession resistent! The initiative is from our end. With the way we re-model the previous structures.
2)What effect this recession will have on HR field and its future ?
Its a sad part when it comes to - employers cutting down on HR.
Recession is a time you take to safe guard your valuable assets. One of the most precious being "top talent" (I call these human beings with the matching skills and attitude, working for an employer)
If we dont give importance to this asset, then its like an effort to pull ourselves more down.
What do you prefer - staying on top? or Surviving?
If you decide to stay on top - we need to invest a lot without expectign returns immediately.
If you just need to survive - forget abt being an Employer considered as the best to work for.
Remember - Industry as such may be in bad shape. But take individual company assessment. A lot are taking advantage of this time and hiring the best available in the job market.
I would not blame the Corporates alone, because what value addition will HR bring in to face recession? That must be neatly described. It may not be in figures, but it will prove as a backbone for maintaining the perfect financial figures at the end of the Recession plague. HR has to reconsider the objectives of that function and can definitely add a lot of value.
For example - finance plays a major part in recession - not just in cost cutting, but also in helping the Corporate to identify - Smart Investing.
Likewise, HR has to remove the non profitable area and think of another profitable area.
3)Will the importance of HR's will be reduced in the coming days as
companies will have less manpower.many companies are not retenting
the employees who are leaving the jobs etc
No - it will not if its a wise company in terms of decision making.
Look at the Long term plan....
Because, when things get back to shape.. u need to be the best and strong employer ready to face any challenge. Our top talent must remain dedicated and not run away for a better Salary... it has a lot to do with how we retain them and EVALUATE them.
Thanks!
From India, Madras
All it takes is a different approach to the situation.
Such incidents to take place and what we need to do is - prepare a shield to be protective against the Recession bullets!
W cannot ignore the situation. We need to face it.
Anyways directly answering ur question:
1) When will this situation change ?
It has no "defined" period of time.
Just see this situation - If you fall while running and get hurt, and if you are bleeding, what do you do?
A. Cry and ask when will this pain reduce?
B. Cry, then think what can be done to reduce the pain, and apply medicine on the wound and take a pain killer?
Which one would u chose? The second one right? I would go for the B option.
So the recession will come to an end, wen we (both Corporate and individual) take measures to be recession resistent! The initiative is from our end. With the way we re-model the previous structures.
2)What effect this recession will have on HR field and its future ?
Its a sad part when it comes to - employers cutting down on HR.
Recession is a time you take to safe guard your valuable assets. One of the most precious being "top talent" (I call these human beings with the matching skills and attitude, working for an employer)
If we dont give importance to this asset, then its like an effort to pull ourselves more down.
What do you prefer - staying on top? or Surviving?
If you decide to stay on top - we need to invest a lot without expectign returns immediately.
If you just need to survive - forget abt being an Employer considered as the best to work for.
Remember - Industry as such may be in bad shape. But take individual company assessment. A lot are taking advantage of this time and hiring the best available in the job market.
I would not blame the Corporates alone, because what value addition will HR bring in to face recession? That must be neatly described. It may not be in figures, but it will prove as a backbone for maintaining the perfect financial figures at the end of the Recession plague. HR has to reconsider the objectives of that function and can definitely add a lot of value.
For example - finance plays a major part in recession - not just in cost cutting, but also in helping the Corporate to identify - Smart Investing.
Likewise, HR has to remove the non profitable area and think of another profitable area.
3)Will the importance of HR's will be reduced in the coming days as
companies will have less manpower.many companies are not retenting
the employees who are leaving the jobs etc
No - it will not if its a wise company in terms of decision making.
Look at the Long term plan....
Because, when things get back to shape.. u need to be the best and strong employer ready to face any challenge. Our top talent must remain dedicated and not run away for a better Salary... it has a lot to do with how we retain them and EVALUATE them.
Thanks!
From India, Madras
Hi Rajeev,
Good Questions asked.
For your Ist question, it has come to the knowledge that by the end of this year, recession is going end i.e. Dec,09. But the end of recession does not mean that everything will be very favourable. It will be taking few months more for the economy to be on the track.
For your 2nd question, Hr department will have to play a more strategic role in terms of training & development, employee engagement n retention.They have to take the responsibility of improving the performance of all the employees.With the uncertainty created in the minds of employees, the onus of HR increases to see that their performance does not hinder. In future , there is a greater role for the HR to play in terms of increased man power planning, effective strategies for coping recession, Motivation, effective retention strategies etc.
For your 3rd question, importance of HR will not be decreased. Infact it will be more as they will be the one playing a major role in implementing strategies for acquiring n retaining their talent pool. In other words, HR will be responbsible for making their organisation a best place to work esp. post recession bcz of feeling of uncertainty in the minds of the people. Again they will have to be responsible for effective performance management straegies.
I think i have answered 10% of ur queries.
Regards,
Jeeta
From India, Mumbai
Good Questions asked.
For your Ist question, it has come to the knowledge that by the end of this year, recession is going end i.e. Dec,09. But the end of recession does not mean that everything will be very favourable. It will be taking few months more for the economy to be on the track.
For your 2nd question, Hr department will have to play a more strategic role in terms of training & development, employee engagement n retention.They have to take the responsibility of improving the performance of all the employees.With the uncertainty created in the minds of employees, the onus of HR increases to see that their performance does not hinder. In future , there is a greater role for the HR to play in terms of increased man power planning, effective strategies for coping recession, Motivation, effective retention strategies etc.
For your 3rd question, importance of HR will not be decreased. Infact it will be more as they will be the one playing a major role in implementing strategies for acquiring n retaining their talent pool. In other words, HR will be responbsible for making their organisation a best place to work esp. post recession bcz of feeling of uncertainty in the minds of the people. Again they will have to be responsible for effective performance management straegies.
I think i have answered 10% of ur queries.
Regards,
Jeeta
From India, Mumbai
First tell me Rajeev...why did you want to ask this-I see you were pretty insistent on the replies? Any specific reason? Rgds, TS
From India, Hyderabad
From India, Hyderabad
Hi tajsateesh,
I am seeing evry where in my place many people losing jobs,pay cuts
,even many of my friends have lost jobs or are working 4 days a week
in industrial area.We too are getting delayed salaries (two to three months once).hence i want to know when this all get over.so posted a question here.
regards
Rajeev
From India, Bangalore
I am seeing evry where in my place many people losing jobs,pay cuts
,even many of my friends have lost jobs or are working 4 days a week
in industrial area.We too are getting delayed salaries (two to three months once).hence i want to know when this all get over.so posted a question here.
regards
Rajeev
From India, Bangalore
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Every Situation can be Read Strategically or Sincerely.pdf