Asked by Teresa Pardo Álvarez on Jul 21, 2024
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If an organization anticipates retrenchment, then it will most likely need to hire additional human resources in the future.
Organization Anticipates
The process by which organizations attempt to foresee future challenges or opportunities and prepare accordingly.
Retrenchment
A retrenchment or turnaround strategy occurs when an organization finds that its current operations are not effective, and major changes are usually needed to rectify the problem. In most cases, this strategy involves rightsizing the organization by closing operations, shutting down factories, and terminating employees in order to get back on the right track.
- Familiarize yourself with the range of growth, stabilization, and reduction tactics used by businesses and the implications for their workers.
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Learning Objectives
- Familiarize yourself with the range of growth, stabilization, and reduction tactics used by businesses and the implications for their workers.
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