Human Resource Management Essay Example | Topics and Well Written Essays - 1500 words - 10

Human Resource Management - Essay Example 155). Human resource planning is the process in which the organization determines and lays strategies to acquire, and maintain the right quantities of human resource pool, in the right ratios of skills ,character and knowledge to fit the organization demands at current and in the future .In a period of recession the strategies employed largely depend on the mission, vision as well as its strategies and functions .Organizations will in most times plan in anticipation of a recession .most organizations result to more efficient utilization of the available human capital especially in states in which large payoffs are required in cases of lay offs .It is inescapable to lay off in cases of large loss making sessions as has been experienced by ZAIN mobile company which operate in parts of Asia and Africa (Punnett, 2004, p. 155).. The other strategy is diversification of product lines to produce more demanded goods such as consumable goods. Companies usually take a thorough evaluation of their product or services and take note of their potential risks .survey conducted in over 130 firms in Europe and America including Microsoft corporation shows that firms engage in revenue generating rather than cost cutting strategies ,this however is common to small startup firms with large widespread firms engaging in cost cutting strategies such as low investment thus cutting on new recruitments .In response to their new skills requirement they result in hiring on contractual basis ,and limited to specific skills .Generally during recession most firms engage in short term human resource planning due to the uncertainties associated with recession ,a good example is the General motors company (Storey, 1999, p. 130). It should be noted that firm sizes affects their response to human resource planning which is largely based on firm size