Global Journal of Commerce & Management Perspective
Open Access

Abstract

Changing Role of HR in managing Global Recession

Dr.Yogesh Gaikwad and Dr.Nilesh Berad

HR Professionals were focus on personnel retention and talent management . HR professionals were being coaches, counselors, mentors, and succession planners to help motivate organization’s members and their loyalty before global recession but in global recession role of HR professional change completely. The recession can be a very interesting period for the HRM Function. The HRM Professionals can design, develop and implement a lot of new HRM Processes in the recession, which are simple and really efficient. But they need to have a clear vision of the HRM behavior in the recession to be really successful. This paper explored main HR initiatives and HR policies and practicing for managing global recession. Recession is becoming the part of the normal cycle of business. Therefore it makes just as much sense to plan for recession or downturns as it does to plan for good, economic times.