When the Only Way Is Up
The case study: When the only way is up
Apparently, there are several problematic issues in the given case study regarding The Global Financial Crisis (GFC) which causes of the long term loss of jobs in the finance and banking area estimated by The International Labour Organization (ILO). Moreover, not only GFC is globally creating the finance and banking sector trouble, but also GFC is affecting the finance and baking department in Australia which is forecasted by Finance Sector Union (FSU). In the result, more than seven thousands jobs were lost across the number of banks. Thus, Human Resource Management (HRM) is playing the significant roles to relief the difficulties in the stage of GFC. This essay focuses on the critical analysis of significance of managing talented and high potential staff during the recession, explanation of the way which the firms such as ANZ, CBA, NAB and KPMG, manage their talented and high potential employees in the stage of economic downturn, and evaluation of effects which those firms are responsible to retain the effective employees by identifying the key stakeholders as the economy picks up.
Initially, it is comprehended that talented and high potential employees have a prospective to deal with the difficulties when they are facing any unexpected conditions. Areiqat, Abdelhadi and Al-Tarawneh (2010) agree that highly potential staffs differently have their own values and motivations. Their thinking is dissimilar and fast. Also, different kinds of challenges are preferred by them to deal with. The more complicated they face; the more challenged them to work on that. These employees must be coped with non-traditional perspective as relationship between employer and employees. Additionally, Baker (2006) cited in Areiqat, Abdelhadi and Al-Tarawneh (2010) give the example of Apple Company that the smart employees which is employed by Apple Company have to present their ability what they will assist the company’s achievement instead of
Apparently, there are several problematic issues in the given case study regarding The Global Financial Crisis (GFC) which causes of the long term loss of jobs in the finance and banking area estimated by The International Labour Organization (ILO). Moreover, not only GFC is globally creating the finance and banking sector trouble, but also GFC is affecting the finance and baking department in Australia which is forecasted by Finance Sector Union (FSU). In the result, more than seven thousands jobs were lost across the number of banks. Thus, Human Resource Management (HRM) is playing the significant roles to relief the difficulties in the stage of GFC. This essay focuses on the critical analysis of significance of managing talented and high potential staff during the recession, explanation of the way which the firms such as ANZ, CBA, NAB and KPMG, manage their talented and high potential employees in the stage of economic downturn, and evaluation of effects which those firms are responsible to retain the effective employees by identifying the key stakeholders as the economy picks up.
Initially, it is comprehended that talented and high potential employees have a prospective to deal with the difficulties when they are facing any unexpected conditions. Areiqat, Abdelhadi and Al-Tarawneh (2010) agree that highly potential staffs differently have their own values and motivations. Their thinking is dissimilar and fast. Also, different kinds of challenges are preferred by them to deal with. The more complicated they face; the more challenged them to work on that. These employees must be coped with non-traditional perspective as relationship between employer and employees. Additionally, Baker (2006) cited in Areiqat, Abdelhadi and Al-Tarawneh (2010) give the example of Apple Company that the smart employees which is employed by Apple Company have to present their ability what they will assist the company’s achievement instead of