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Recent Times have witnessed economic slowdown which has resulted in organizations changing their HR perspectives resulting in the need for effective HR strategies. This study explores the outcome of recession in terms of changes in employment relationship, critically appraising and evaluating the outcomes of recession in terms of opportunities created with emphasis on HR systems and strategic role. It highlights the scope for companies to move upwards during times of downturn through a framework of required HR practices.


Recession, HR Strategy, Psychological Contract, Sustainable Competitive Advantage.
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