When an organization is using a turnaround strategy, its human resource managers need to be involved in?

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06-09-2022
Business

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When an organization is using a turnaround strategy, its human resource managers need to be involved in?

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Tutorconsortium216 Tutorconsortium216 · Answer 1 · 2022-09-10T15:22:57-04:00

Decreasing the size of the organizations workforce is the turnaround strategy used by an organization human resource managers .

What is turnaround strategy ?

A turnaround plan involves restructuring or turning the company's current strategy on its head. Companies typically use this tactic when a unit or department is losing money or has been doing poorly for a while.

Underperformance may have a variety of causes. It's possible that the management isn't doing its job properly. Or perhaps a recessionary period is what the economy is going through. It's possible that consumer preferences and tastes have altered. Or a natural disaster might have struck the nation. Similar to this, the company can be dealing with a significant increase in input costs or the entry of new competitors. A financial or liquidity problem could also be present.

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