The sacking of 1900 employees by Jet Airway’s management , and bringing back them on board within forty eight hours after sacking has been most talked about management topic the global corporate HR management strategy.
Jet's management has over reacted to the economic meltdown, a traditional India have got a very conservative culture, though we are trying adopting the westernized management system, but this is very difficult to practice in India in taking tough decisions particularly with HR related issues.
The typical hire fire management system is not applicable in Indian corporate culture, if we look back to late Mr. G.D.Birla, Late Mr. J.R.D.Tata they were very conservative in their HR management policy, they believed in a mix of corporate management and as well as family management that was made on the principal of Gandhi's Collective bargaining and mutual trusteeship model.
It may be due to our own ancient Indian Hindu-Buddhist traditional culture, very much like the Japanese management and work culture of life time employment.
Mr. Goel got very emotional and said that it's his family and the family members will sacrifice (Pay cut) and both management and employees will help to bring back the loss making Jet to profit.
Unlike West we don't have the safety net and stubborn social security; it's basically a rapid transformation from a traditional primary economy to industrial economy to tertiary economy.
Over the last decade in
The transformation and dependence on the tertiary sector has been very rapid and the whole education and training sector in
The real economic tsunami will hit
One good thing happens
One more thing lastly the silver lining, which can really bail out
If the domestic demand can be properly managed the immediate crisis can be neutralized too some extent.