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We are at 5…

We are at 5…. While the business is making their 2009 plan we need to keep this Economic cycle in mind to gear us better… 6 is hopefully 4-5 Qs away. Growth Rate Forecast. Globally four main indicators - sentiment, valuation, estimate revisions, and jobless claims.

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We are at 5…

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  1. We are at 5… While the business is making their 2009 plan we need to keep this Economic cycle in mind to gear us better… 6 is hopefully 4-5 Qs away

  2. Growth Rate Forecast Globally four main indicators - sentiment, valuation, estimate revisions, and jobless claims. In India watch for valuation, estimate revisions, market volatility and FIIs flows

  3. Some current Micro experiences...desperation...sentiments A MNC bank ordered Coffee machines and is now looking at returning all of them A leading private bank has stopped reimbursements A MNC bank has given a mandate to cut rentals by flat 25% across ATMs and branches or shut down A MNC bank has stopped giving credit cards to applicants from Financial Services A leading NBFC is delaying employee reimbursement to have cash The domino is yet to happen

  4. To understand what we can do during this crisis we first need to – Introspect… Point to us - HR People don't change when they see the light. People change when they feel the heat

  5. What Led to this Situation? ‘Id, Ego, Super Ego’ BAD, GOOD OR GREAT Missed the fundamentals Managing scale Greed & Fear Decide on values not while looking at an opportunity or in the middle of a crisis, but now

  6. Confused alpha with beta No assessment of Culture match Limited focus on induction hence the socialization process High tolerance for poor discipline Not questioning business enough Need for acceptance / did not take a stand What Current HR practices Led to this Situation? It’s the job of the leader to make it easy to do the right thing and difficult to do the wrong thing

  7. Where the Opportunity Lies

  8. Job cut v/s Pay cut? Identify your Hi Potential Identify your most critical roles Align with Business Plan What Now… Step 1 Step 3 • Focus on Culture • Focus on Fraud • Explore ‘temp to perm’ recruiting • Compensation restructuring Step 2 Step 4 • Employer Branding • Cost Management Group • Communicate • Mood Congruency • Focus on Outplacement Its during these tough times that everyone is talking about culture or fundamentals

  9. Hiring process – Good to great Better induction with focus on culture - The Robin’s High Performance High Integrity – Ben Heineman Zero tolerance for poor discipline – Spock and Mother Teresa Addition to Dave Ulrich – ‘Vigilant’ Business Ally Give assignments for development – CCL Consolidation, realignment, renegotiate What else… You get the best efforts from others not by lighting fire beneath them, but by building a fire within

  10. GE McKinsey 9 Box Matrix & Uncertainty Model Risk Time One can also use the McKinsey Uncertainty model to find better solutions

  11. “Don’t tell me you enjoyed this, tell me what you will do differently on Monday morning” Peter Drucker Thank you

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