As it has been mentioned earlier that under the present context, it is doubtful whether the companies would be able to enhance pay for performance, or to strictly follow the policy of equal pay, it equally creates doubt whether they would be able to fulfill the basic demands of the situation like engaging their employees or garnering competitive advantage from them. There are other views that are doing rounds too.
Towards finding the way to combat the current recession, Wellins (2008) pushed the ball back to the employees' court by suggesting that it is now the responsibility of the employees to bail out the companies, besides mentioning about the role of leaders in supporting the employees under them. Apparently, this looks like a clue to the solution, but it is certainly not a solution itself, as it does not mention about how they employees would gather themselves or the leaders would find that magic approach to motivate them so that the employees would serve more for less and still would remain motivated.
Therefore, it can be seen that the experts are rightly pointing to the fact that all should be ready to give more at less, be it the employee or the employer, but they are not specifying the ways to achieve that state. On the other hand, that is what the companies need to achieve at this period of crisis, no matter how much impossible it may look like.
Amid this situation, this paper explores the questions raised above to find the possible way, after reviewing and analyzing appropriate literature on all possible variables associated with the issue of doing good business in the time of downturn. Objectives: To underpin the main drivers of business environment amid economic downturn To identify the current demand of the business environment To underpin the appropriate business philosophy to meet the demand of the environment
To identify the appropriate leadership that can successfully implement and maintain the required business philosophy To identify the appropriate strategic human resource management application tool that can work in tandem with leadership to systematize the process of implementing required business philosophy and aligning individual employee goals with it Recommending a package of most appropriate business solution amid the economic downturn.
Source: law aspect
Towards finding the way to combat the current recession, Wellins (2008) pushed the ball back to the employees' court by suggesting that it is now the responsibility of the employees to bail out the companies, besides mentioning about the role of leaders in supporting the employees under them. Apparently, this looks like a clue to the solution, but it is certainly not a solution itself, as it does not mention about how they employees would gather themselves or the leaders would find that magic approach to motivate them so that the employees would serve more for less and still would remain motivated.
Therefore, it can be seen that the experts are rightly pointing to the fact that all should be ready to give more at less, be it the employee or the employer, but they are not specifying the ways to achieve that state. On the other hand, that is what the companies need to achieve at this period of crisis, no matter how much impossible it may look like.
Amid this situation, this paper explores the questions raised above to find the possible way, after reviewing and analyzing appropriate literature on all possible variables associated with the issue of doing good business in the time of downturn. Objectives: To underpin the main drivers of business environment amid economic downturn To identify the current demand of the business environment To underpin the appropriate business philosophy to meet the demand of the environment
To identify the appropriate leadership that can successfully implement and maintain the required business philosophy To identify the appropriate strategic human resource management application tool that can work in tandem with leadership to systematize the process of implementing required business philosophy and aligning individual employee goals with it Recommending a package of most appropriate business solution amid the economic downturn.
Source: law aspect
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