Human Resource Management
Human resource management, is one practice whose main concern is the workers. This practice deals with the increasing needs that affect workers. This practice deals with all the aspects that exist in an organization. This practice has been associated with various fields that include compensation, training, downsizing, hiring and the management of performance among others. This practice gives a go ahead in bringing together people, the workplace and most of the entire environment. Various articles have identified this aspect in broader terms. HR has on many occasions been associated with traditional practices which involved administration and personnel, but is advancing to a level where the important aspect is the value to be added to the employees and all the program set in place. This aspect of value addition is critical as it ensures the success of the organization (Kapstein, 1993).
Downsizing is a term that is widely used to mean the aspect of trimming down workforce in a bid to reduce the working cost. This aspect is practiced very often when the market seems to have little light to enable the company run and at least maintain the competing power between it and other businesses. The changing nature of the markets and economy, leads to companies using this practice as a tool to achieve better performances. This practice is deemed to be disappointing as many employees lose their careers to enhance the growth of the business. This word is also replaced by various other words like laid off, release, termination or firing (Garber, 2008).
There are various reasons as to why this practice is put in motion. One of the major reasons that allow the flow of this practice is to enable the operations of the organization achieves the effective and efficient nature of running and operations. This aspect is practiced when a company may for example wish to replace part of its workforce with new and improved machines. This aspect is quite good as the business can expect that the machines are easier to handle and use less cost. The aspect of the machines to be minimal prone to making errors also attracts the aspect of downsizing. The company can also realize that it had employed a lot of employees, and wishes to trim the number to a capacity that it can handle. This is influenced if the company starts to face a shortage in the number of its customer that it had (Parkinson & Conference Board, 1997).
The term laid off has quite an interesting meaning as it implies that the employees are not permanently sent home, but can be recalled back to work if the markets show they are picking and getting back to normal. This aspect is one tough blow for employees, and they must be aware and ready for it when the markets dim. This process, however, should be done in a simplified way and manner that will help employees recover from the shock. Companies that use this aspect should make use of it to establish their presence in the market (Baumol, Wolff & Blinder, 2003).
There are a couple of reasons why this aspect happens. Part of these reasons is when a company combines and accepts to merge with another. This happens as the company becomes a single company and it has to achieve the sole role of being in the market deemed to be profit. The employees have to be trimmed to ensure the company operates smoothly. If a company is bought by another, then this aspect of downsizing may occur. In the case of change, then this happens when a new management is put in place.
Downsizing has been felt recently by the banking industry as it is explained in the article by Reuters. This as explained is that almost about 160,000 jobs have been terminated. This means that this process is likely to continue amidst objections. This is the process that has been taken as a measure as the industry tries to restructure well. This as explained implies that many in Europe continue facing this as compared to Asia and America which faces lower cut offs. This as explained by Reuters is that Britain is going to be the worst hit as finance is what has grown the economy. This aspect is going to affect the economy as at this time it is facing recession (Pfann, & Salvanes, 2001).
The impact of downsizing is about to be felt by the employees of Sanofi-Aventis as indicated in the article by David shepp. The management led by the chief executive has stated that it is about to trim part of its workforce. The proposed numbers that will face downsizing include about 1700 employees. This is also frustrating to the management but as a mission to restructure and improve the agency it has to take these measures. This comes at a time when the economy is on the downfall. This aspect is not going to be appreciated by many employees about the company has to attain its mission (Baumol, Wolff & Blinder, 2003).
The other organization that the catastrophe of downsizing will be felt is the bank of America as explained in the article by Hugh Collins. The management says that it has planned to cut off about 400 of its employee. This bank is among the biggest financial institution in America. The management has explained that it wishes to retain only the best, effective and efficient employees. This as stated by the management is because of the downfall of the revenues. This is an aspect that is also an experience with other banks which are taking these measures including Barclays capital which has started the process. Credit Suisse also is taking the same steps to enhance and cope with the falling revenue.
The practice of downsizing is one that is becoming increasingly a tool to achieve the best performance when times hit low. In every human resource department, this aspect has to be practiced. The company must take and use all means within their power to ensure that they retain and maintain the stability of their firms in the market.
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