Seminar talk by Mr. Y.S.S. Kapdi, MD & CEO, SBI DFHI Limited, MumbaiSeptember 11, 2009
Seminar talk by Mr Sanjay Maitro, General Manager (Human resource), Haldia petro-chemicalsSeptember 12, 2009
Topic: HR Challenges in an eco-nomic slowdown
Date: September 12, 2009
Speaker Profile :
Alumnus of XLRI. Over 30 years of rich corporate working experience in various capacities. He has also been a visiting faculty member in leading busi-ness schools.
Mr Maitro discussed about the world wide effects of recession, how things have changed in the last few months. He shared that retrenchment has been a sore reality, companies are buckling up overnight and downsizing, cost cutting and raising efficiency usually translates to loss of jobs.
According to the centre for monitoring the Indian economy (CMIE), the growth in organized sector jobs has fallen for the first time in 10 years.
The other salient aspects of his talk were as follows :
- How we should look ahead in the economic recession.
- Enhanced ownership of people.
- Strong commitment to empower employees and decentralized decision making.
- Renewed commitment to people development.
- Be sensitive to variations in employees’ needs, abilities and traits recognize that different employees have different preferences.
- Give employees positive feedback.
- Being honest and open with employees about difficult times. Often employees are willing to make cuts and changes when they understand the facts.
- Free flow of communication across the organization with specific focus on enhanced listening. People must have all opportunity to be heard most importantly; the truth must really be heard.
- Ensure enhanced engagement. Identify the core skills in the company and imparting training to the existing members.
- Use slower times to sharpen the skills, technical and personal, of the employees. This will help keep staff members engaged and equip them to provide the exceptional service that can sustain the company now and contribute to its prosperity later.
- Entice people to embrace wider span of duties with greater degree of responsibility, authority & accountability
- Extensive improvement of the capability (skills, knowledge & process abilities) of the people on an ongoing basis.
- Preparing the existing employee base to be equipped to beat the recession.
- Employment Security, i.e. correction in salary offerings rather than job cutting.
- Avoid discriminations. Infuse trust, avoid inequity, encourage participative management, adopt open door policy and reduced Status distinctions and barriers.
- Acknowledge when a job is well done.
- Planned removal of non-profit making areas, or non-affordable areas. Reduce expenses that don’t add value