Organizational Health, Stress & Commitment During Global Financial Crisis.
Indian Journal of Industrial Relations 2010, July, 46, 1
Indian Journal of Industrial Relations
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Impact of the Global Crisis The year 2008-09 was a period of uncertainty due to the financial meltdown, which led to decreasing productivity, pricing challenges and volatility in currency market (Gopalkrishnan 2009) that hit many organizations very badly. Though the crisis originated in the USA due to the bursting of the boom in the housing sector, it also affected the Indian economy; it was felt, that the spillover effects of the financial crisis would affect certain sectors of the economy more. For example, Prasad & Reddy (2009) observed that the financial and information technology sectors will be the worst hit followed by sectors that were more exposed to the economy of United States of America. Employees in various industries were nervous and experienced tension consequent to the global recession led slow growth of domestic economy. It is important to understand the impact of the recession on the employees as it has a direct bearing on employee morale and well-being, which may have important consequences for early revival of the industry. The stimulus package provided by the policy makers will be effective when the climate within organizations become conducive for enhanced performance.
- 2,99 €
- Category: Finance
- Published: 01 July 2010
- Publisher: Shri Ram Centre for Industrial Relations and Human Resources
- Print Length: 22 Pages
- Language: English