HOW TRAINING CAN HELP IN FIGHTING RECESSION

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INTRODUCTION TO RECESSION

EFFECTS OF RECESSION

UNEMPLOYMENT

LAYOFF VS RETENTION

TRAINING TO BEAT RECESSION

OTHER COST EFFECTIVE METHODS OF TRAINING:

(a) MOTIVATION

(b) COACHING & MENTORING

2HOW TRAINING CAN HELP IN FIGHTING RECESSION

HOW TRAINING CAN HELP IN FIGHTING RECESSION

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DEFINITION: In economics, the term recession describes the reduction of a

country's gross domestic product(GDP) for at least two quarters. The usual dictionary definition is "a period of reduced economic activity", a business cycle contraction.

The US-based National Bureau of Economic Research (NBER) defines economic recession as: "a significant decline in the economic activity spread across the country, lasting more than a few months, normally visible in real GDP growth, real personal income, employment (non-farm payrolls), industrial production, and wholesale-retail sales.”

HOW TRAINING CAN HELP IN FIGHTING RECESSION

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CAUSES OF RECESSION:

Currency crisis Energy crisis War Under consumption Overproduction Financial crisis

EFFECTS OF RECESSION:

Bankruptcies Credit crunches Deflation (or disinflation) Foreclosures Unemployment

HOW TRAINING CAN HELP IN FIGHTING RECESSION

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• According to ILO, global unemployment in 2009 could increase over 2007 by a range of 18 million to 30 million workers, and more than 50 million if the situation continues to deteriorate.

• The ILO report also said that in this last scenario some 200 million workers, mostly in developing economies, could be pushed into extreme poverty.

HOW TRAINING CAN HELP IN FIGHTING RECESSION

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HOW TRAINING CAN HELP IN FIGHTING RECESSION

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HOW TRAINING CAN HELP IN FIGHTING RECESSION

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Instead of laying off, the employees can be retained to get fruitful results in future.

Cut non-performing employees to part time basis. Cut salary of high paid employees to make

impact on the bottom line. Short term layoff of high paid employees. Working day cut to 4 days per week. Job sharing Training lower paid employees to do higher level

work.

HOW TRAINING CAN HELP IN FIGHTING RECESSION

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Training the existing human Resource and enhance their skill set to get more revenue in other fields.

Improve loyalty and moral of old employees.

Improve leadership skill by training

Encourage internal training rather then getting external training to cut cost.

Motivate old employees and help them match their individual goals with organizational goals.

Talking advantage of multi talented and skilled employees in order to control valuable expenses. This also improves relationship with our old valuable employees.

HOW TRAINING CAN HELP IN FIGHTING RECESSION

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COST EFFECTIVE METHODS OF COST EFFECTIVE METHODS OF TRAINING TO BEAT RECESSIONTRAINING TO BEAT RECESSION

The employees should be motivated so as to link their personal goals with the organizational goals.

People without personal goals tend t move towards negativity. If negativity is lock- motivation is the key

Maslow’s theory of motivation can be of get help in this context.

MOTIVATION

COACHING AND MENTORING

Coaching and Mentoring foresters win-win relationship between the employer and employee.

Helps the employee to achieve his personal goals along with the organizational.

It improves personal leadership of an individual.

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HOW TRAINING CAN HELP IN FIGHTING RECESSION

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