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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

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

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


We are at 5

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


Introspect

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


What led to this situation

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


What current hr practices led to this situation

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


Where the opportunity lies

Where the Opportunity Lies


What now

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


What else

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


Ge mckinsey 9 box matrix uncertainty model

GE McKinsey 9 Box Matrix & Uncertainty Model

Risk

Time

One can also use the McKinsey Uncertainty model to find better solutions


We are at 5

“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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