We are at 5…

While the business is making their 2009 planwe need to keep thisEconomic cycle in mindto gear us better…6 is hopefully 4-5 Qs away

Growth Rate Forecast

Globally four main indicators - sentiment, valuation, estimaterevisions, and jobless claims.

In India watch for valuation, estimate revisions, market volatility and FIIs flows

Some current Micro experiences...desperation...sentiments

The domino is yet to happen

A MNC bank has stopped giving credit cards to applicants from

Financial Services

A leading private bank has stopped reimbursements

A MNC bank ordered Coffee machines and is now looking at returning all of them

A MNC bank has given a mandate to cut rentals by flat 25% across ATMs and branches or shut downA leading NBFC is

delaying employee reimbursement to have cash

Introspect…To understand what we can do during this crisis we first need to –

Point to us - HR

People don't change when they see the light. People change when they feel the heat

‘Id, Ego, Super Ego’

What Led to this Situation?

Decide on values not while looking at an opportunity or in the middle of a crisis, but now

Missed the fundamentals

Managing scale

Greed & Fear

BAD, GOOD OR GREAT

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

It’s the job of the leader to make it easy to do the right thing and difficult to do the wrongthing

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

Step 1

Step 2

•Communicate•Mood Congruency•Focus on Outplacement

•Focus on Culture•Focus on Fraud•Explore ‘temp to perm’ recruiting•Compensation restructuring

Step 3

Step 4

•Employer Branding•Cost Management Group

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

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

Risk

Time

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

“Don’t tell me you enjoyed this, tell me what you will do differently on

Monday morning” Peter Drucker

Thank you