Human Resource Practices During Recession

Abstract

Business cycles are recurrent in nature in an economy. They areparticularly true for the countries aligned with the free market principle. The cycles are common in advanced countries. They starts from one peak to another peak or one trough to another trough. The expansion and contraction of business activities affect the nations aiming at rapid economic growth. The present slow down influences the economic activity in a greater magnitude. There arise issues related to employment, asset management and the survival of the firm if the trend continues in the future. The world over the economic condition seems to be different and affect the fast growing economies too. The firms try to remodify their strategies to withstand the onslaught of trade cycles. There are leading coincident and lag indicators informing one to understand the economic growth of an economy. Normally it happens six months before the actual downturn sets in the economy. There may be a fall in the recruitment and the process of it even before the slowdown. Hence it is imperative to understand the appropriate human resource practices for the development of a firm.