HRM INNOVATION STRATEGIES IN RECESSION: A NEW PARADIGM

Priyanka Sharma¹*, Jisha Sharma², Ravi Shukla³, Nidhi Verma⁴, Priti Shukla^5
1Department of Management, Sir Madanlal Group of Institution, Alampur Hauz, Agra Road, Etawah (UP)-206001, India
²Department of Management, Sir Madanlal Group of Institution, Alampur Hauz, Agra Road, Etawah (UP)-206001, India
³Department of Management, Sir Madanlal Group of Institution, Alampur Hauz, Agra Road, Etawah (UP)-206001, India
⁴Department of Management, Sir Madanlal Group of Institution, Alampur Hauz, Agra Road, Etawah (UP)-206001, India
⁵Department of Management, Sir Madanlal Group of Institution, Alampur Hauz, Agra Road, Etawah (UP)-206001, India
* Corresponding Author : priyanka_mbasharma@yahoo.com

Received : -     Accepted : -     Published : 15-06-2010
Volume : 1     Issue : 1       Pages : 29 - 36
Int J Econ Bus Model 1.1 (2010):29-36
DOI : http://dx.doi.org/10.9735/0976-531X.1.1.29-36

Keywords : Innovations, Recession, Compensation strategy, Payroll, Recruitment, contingency
Conflict of Interest : None declared

Large format recession has been a growing international trend in corporate sector over the last decade, with companies. HRM strategies & innovations providing a wide selection of employees, employers, customers, suppliers etc. in all ranges. This paper outlines the transformation of HRM strategies and innovations in Asia. Beginning with its inception, the paper is progresses towards its various HRM functions like recruitment and selection of employee, training and development, compensation and benefits, growth of Human, communication, HR front office and competitive HRM strategies to establish and strengthen its presence in the whole Asia. This paper also highlights HRM strategies to counter intensified competition and external conditions like global economic recession, the resultant credit crunch and its impact on employee performance. Further aim of this research is to find out measurement of performance, challenging industrial and economic conditions, what are the growth options to ensure future growth sustenance and profitability?

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