Human resource management during recession in transition economies:challenges and prospects
Human resource management during recession in transition economies:challenges and prospects

Summary/Abstract: Current economic conditions create challenging environment for organizations which significantly affects the way companies manage their workforce. Globally, companies struggle to survive in this uncertainty with cost cutting measures that inevitably affect their HR policies and practices. This raises issues related to the implications of the recession for HR function, the challenges that HR professionals face during crisis and HRM benefits for companies in overcoming the crisis. Taking into consideration the infancy of HRM function in transition economies, this economic crisis is expected to hinder the development of HRM, mainly due to ignorance about potential significance of strategic HRM in times of crisis. Therefore, HR professionals should be acquainted with HR measures undertaken in companies in developed economies.

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