The paper “ How the Economic Downturn Affect the Human Resources Practices in the UAE Bank” is a meaningful example of the research paper on management. With the ongoing global economic meltdown, corporate organizations have been greatly impacted and the executive has had to devise measures and policies to ensure that these organizations remain profitable. Job cuts have been evident as the organizations attempt to reduce their operating expenditures, therefore, resulting in increased supply in the labor markets. Apparently, there exist a number of other proactive measures at the disposal of the organization aimed at reducing their vulnerability to the economic downturn.
The practices of the human resources department have been under scrutiny as organizations target the department to reduce their costs. Due to the heightened job cuts especially among financial institutions, employees have reduced their performance levels especially due to lack of motivation and job security. Problem IdentificationThe economic meltdown has exhibited varying impacts across nations and industrial practices with the most common impact being the negative impact on the financial markets that have led to investors experiencing financial losses.
As a result, investors have channeled their funds towards more promising investments as the economic downturn subsides. However, the economic downturn has not only impacted on investors but also on both big and small organizations. These organizations have had to adjust their resource allocations in order to ensure that they survive the economic meltdown. It is a widely known fact that the performance of business organizations is positively correlated to the economic performance of a nation (Gonzalez, Karoly & Constant, p63). Both large and small organizations have to ensure the efficient allocation of resources towards attaining their preset objectives.
Organizational resources can be broadly classified into two namely financial and human resources. Financial resources ensure that the organization has the necessary funds to meet its obligations whereas the human resources ensure that the organization has the required manpower to undertake the various operations (Jackson & Schuler, p29).
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