Impact of current economic downturn on Startegic human resource Essay

Impact of current economic downturn on Startegic human resource development - Essay Example e strategic human resource development can involve any of the following types of development such as short term or long term development, individual or group orientation, low participation or high participation techniques, spontaneous or systemic development and so on (Schuler and Jackson, 1987). But the dependence of these types of development techniques is based on certain pillars. These are as discussed by Garavan (2007) global environment, corporate strategy and culture, value and exclusivity of jobs and lastly employee expectation and careers. This essay will examine the importance of the contexts in the strategic human resource development while assessing the impact of the recent economic turmoil on these contexts in relation to human resource development. Furthermore, new steps initiated by organizations in response to the impacts will also be discussed. A swiftly changing economic environment illustrated by events such as globalization, deregulation of global markets, changing demands of customer and supplier, rapidly increasing competition in product-market and so on has become a change standard for organizations. Organizations in order to remain competitive, find ways to reduce costs, innovate products and processes and bring about changes in human resource management and development. Researches have addressed the concept of human resource as one that contributes to the accomplishment of organization’s operating and strategic goals. As the human resource strategies are built to accomplish the goals of the firms, certain objectives or framework also lies behind the development and objectives of strategic human resource. According to Garavan (2007) four levels of context are important in shaping organizations strategic human resource development: a) the global environment; b) the organization’s strategy, structure, culture, and leadership; c) the value and uniqueness that the firm attaches to particular jobs; and d) individual expectations,