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Streamline salaries: For the past few years most industries have seen above-normal salary hikes due to the pressure of retention. In fact, India Inc recorded the steepest salary hikes in Asia for seven years running till 2008, according to Hewitt Associates. But the recession has changed things dramatically. Salary freezes and pay cuts have suddenly become the order of the day. The 13th annual Salary Increase Survey conducted across 480 companies by Hewitt Associates shows that salary increase projections for 2009 in India have dipped to 8.2 per cent from an actual increase of 13.3 per cent in 2008, but continue to be the highest in the Asia-Pacific region and among the highest globally.

According to the company, for the first time in six years, India will see single digit salary increases. Importantly, the data for the survey was collected from December 2008 to January 2009 and Hewitt expects that the salary increase projections may fall even further in coming months. Hence, this period can be viewed as an opportunity to streamline salaries and cut costs.

Make organizations more performance-centric: The recession has forced organizations to take a close look at the workforce and identify the real performers. The non-performers have either found their way out of the organization or have been put on a short notice to ‘deliver or perish'.

Identify real talent: The renewed strict focus on performance alone for survival in organisations has not only exposed low- and non-performers, but has also brought to the fore ‘real talent' in the organization.

Develop talent as leaders: A recession is the right time to wisely invest in the development of talent, both in terms of skill sets and in the form of future leaders. The focus has to be on how much they are investing in their employees and what skill sets they will need to grow their businesses in the future.

Review and restructure policies: The mad pace of hiring, training and appraising seems to have come to a screeching halt. And if not to a complete full stop, the rate is low and slow. This also gives HR the time to revisit its policies, compare them with the best-in-class practices and restructure them for maximum effectiveness in the present and the future.

Build employer brand: Despite the fact that many companies have put a freeze on hiring, both hiring talented people and retaining them will continue to be a challenge for HR. Hence, keeping the employer brand intact and re-building the same could have a cascading impact later.

Communicate and build trust and morale: Communicating with employees not only re本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。