Introduction
Crisis management may be defined as an organization’s acts and behaviors which prepare it to be ready to manage major catastrophic happenings in a safe and effective style (Lockwood, 2005).
Market globalisation, lack of qualified workforce and financial crisis present permanent pressure on the enterprise management, which must be focused on developing a competitive strategy as well as on determining and implementing crisis management to keep the enterprise going. The enterprise can have high technology, dispose of vast financial resources and precious information but only qualified and skilled employees will make decisions and ensure success and competitiveness of the enterprise (Hitka and Sirotiaková, 2011).
As a result of recent changes in the economic structure, the adaptation of the Slovak economy to market conditions, enterprises pay more attention to man and his personal traits. As the only source of innovation and progress, the employee can use new opportunities, markets and up-to-date technologies. The above-mentioned changes can also be observed in the area of woodworking industry (Jelačić et al., 2012).
In the study conducted by Smith & Liou (2007), the impact of financial sector in response to financial distress is analyzed. As a matter of evidence, several studies have proven the negative impact caused by the financial distress on employee job motivation and job security level. Dr. Sori (2006) noticed a strong relationship between the final variables in the prediction model. Further studies have also proven similar results.
The motivation of employees can also be viewed as a cognitive element which can be understood through cognitive processes such as goals within Locke and Latham’s (2006) goal setting theory. Motivation is the process that explains an individual’s intensity, direction, and persistence of effort toward attaining a goal (Robbins et al., 2009). Jones (1955) cited in Steers & Porter (1991) define motivation as ‘...how behaviour gets started, is energised, is sustained, is directed, is stopped, and what kind of subjective reaction is present in the organism while all this is going on. Therefore motivation covers how organisationally beneficial behaviour can be started and maintained.Motivation includes the vigour and persistence of action (Atkinson (1964) cited in Steers & Porter, 1991).
How we planned to deal with the problem
I currently work for a leading food firm in Sri Lanka, and the tactics implemented to inspire staff amid this economic downturn are as follows.
• Those who use public transportation are provided with transportation to their doorstep by the company. It enables those individuals to operate more effectively in the office.
• The company paid for some of the employees' children's higher education.
• The company provides breakfast to each employee.
• The current insurance scheme has been improved.
• Providing the necessary consumer items at a reduced cost
• Addressing the employee grievances on time promotes positive relationship between employees and management. Therefore, a lot of initiatives have been taken to resolve employee grievances.
• Employee counseling provided by our factory HR is a good helping process for our employees to get the direction to solve their problems.
During a downturn in the economy, human resource management must focus on retaining and motivating competent key personnel who can help the company overcome the crisis and provide a competitive advantage in times of prosperity.
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