What are some ways that recruitment and retention plans might be affected by the

Question

What are some ways that recruitment and retention plans might be affected by the current economy? Think about both positive and negative changes that could occur. Some factors to consider in your discussion are downsizing, consolidation, outsourcing, expansion, etc. If you are able to, you can speak with someone in your HR department and find out directly. You can also do research and pull from the textbook to support your response. You may also choose to discuss your own plans and experiences. Have you changed any plans that you may have had, career-wise, due to the economy? Has the economy pushed you in a positive direction? For instance, did you decide to enroll in graduate school because you want to make yourself more valuable to organizations?

Explanation / Answer

Whether it is economic contraction (downturn) or economic expansion (growth), economy always has effect on recruitment and retention decisions of the organization. Generally downturns have negative effect on the recruitments and retention because organizations look to cut costs and improve efficiencies by freezing hiring and letting go under performing employees. In contras when economy is growing organization undertake various business expansion activities, for that they require talented manpower. Also when economy is growing firms offer more incentives therefore high performing employees looking for job change, so there is enough talent available. But when there is an economic downturn firms are not ready to spend more which freeze movement of employees.

I hope this will help. Good luck.

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