innovation‚ new product line Realignment of business Take overs or mergers Business Process Re-engineering Procedures for VRS The Employer has to issue a circular communicating his decision to offer VRS‚ mentioning: The reasons for downsizing Eligibility (age‚ service period) The benefits offered The right to accept or reject Deadlines Steps to be taken for introducing and implementing VRS Approval from government(private sector) Identify targeted department/employees
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Challenges faced by HR management when significant staff cutbacks occur and how they should be addressed Downsizing is never easy on the Human Resource department. In fact‚ if not handled properly‚ it could be detrimental to the overall organization. Here are some challenges that come along with downsizing: Addressing the shifting morale and needs of the surviving employees‚ maintaining the productivity and profitability of the organization‚ and retaining skilled‚ and qualified employees.
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the managers will become fruitful after they offer good feedback to the workers. The managers will plant a seed in the lives of the workers. The workers will multiply that seed into a plentiful harvest. References Gandolfi‚ F. (2013). Workforce Downsizing. Journal of Management Research‚ 13(2)‚ 67-76. Gomez-Mejia‚ L. R.‚ Balkin‚ D. B.‚ & Cardy‚ R. L. (2016). Managing human resources (8th ed.). Upper Saddle River‚ NJ: Pearson Education. ISBN: 9780133029697. Schraeder‚ M.‚ Becton‚ B.‚ & Portis‚ R.
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difficult facts to make sure that we all keep an open perspective when a company downsizes. Giving employees bonuses during this type of a difficult situation is good because this allows you to make a peaceful profit for the employee to stay while downsizing staff. Sometimes if you downsize a large staff and people get cut‚ this can become an intimidating situation and those who are staying should feel more
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METAMORPHOSIS OF TATA STEEL -THE CHALLENGES OF CHANGE MANAGEMENT "There is nothing more difficult to take in hand‚ more perilous to conduct‚ or more uncertain in its success‚ than to take the lead in the introduction of a new order of things." — Niccolo Machiavelli The Prince (1532) "In times of rapid change‚ experience could be your worst enemy." — J. Paul Getty INTRODUCTION 1. Tata Steel is the largest steel company of the country and at present stands as the 10th largest steel
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Motivational Methods paper Anonymous University of Phoenix HSC/325 09 December 2013 In the health care industry change happens continuously. It is critical that employees within a health care organization are prepared for those changes
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Case 6-3 chapter 6 Financial Statement Analysis 10th k.r. subramanyam john j. wild On September 16‚ 20X8‚ Toys “R” Us [ToysRUs.Com]‚ the world’s largest toy seller‚ announced strategic initiatives to restructure its business. The total cost to implement these initiatives yielded a charge of $508 million‚ which exceeded operating earnings from the prior year. The $508 million charge consisted of costs to close and/or downsize stores‚ distribution centers‚ and administrative functions to streamline
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fellow employees in new and creative ways‚ proclaiming a new era of trust and cooperation. Perception Many of the other employees‚ including Simon were less than eager. Simon later said: "Just another pile of corporate crap. One minute they try downsizing‚ the next reengineering. Then they dabble in restructuring and now Martin push for empowerment. Garbage like empowerment isn’t a substitute for hard work and a little faith in the people who have been with this company for years. We made it great
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first discusses which emotions can be involved in restructuring processes and how these emotions may affect a company ’s performance and the whole success of the process. Thereby the paper focuses on the emotions of the people who implement the downsizing decision and who keep their jobs. The emotional consequences for the ones who lose their jobs are not part of this paper‚ although this is definitely a very important topic within this whole research area. In the second part‚ it is shown how companies
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Nathan‚ R. (2007)‚ Colleagues turn counsellors in BBC ’s pioneering program Human Resource Management International Digest‚ Volume 15 Number 5 pp. 11-13. Kanter‚ c (1986)‚ Managing HRM risk in a merger‚ London. Business Week (1994)‚ "The pain of downsizing"‚ Business Week. Doherty‚ N.‚ Horsted‚ J. (1995)‚ "Helping survivors to stay on board"‚ People Management‚ No.12 January‚ pp.26-31. Institute of Personnel and Development (1996)‚ The IPD Guide on Redundancy‚ IPD‚ London. Schlesinger‚ L. (2002)‚
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