A Study Of The Influences Of Economics And Financial Crisis On Human Resource Management W R T Education Industry In Mumbai

Abstract

newline This PhD thesis examines the influences of economics and financial crises on human resource management (HRM) within the education industry in Mumbai. The study aims to understand how economic factors and financial downturns impact HRM practices and strategies in educational institutions, with a particular focus on the context of Mumbai. newline newlineTo achieve the research objectives, a mixed-methods approach was adopted, combining both quantitative and qualitative methods. The quantitative phase involved analysing secondary data on economic indicators, financial crises, and HRM practices in the education sector. The qualitative phase encompassed in-depth interviews with HR managers, administrators, and educators from a range of educational institutions in Mumbai. newline newlineThe findings of this study highlight the profound impact of economics and financial crises on HRM in the education industry. The research reveals that during periods of economic instability, educational institutions face significant challenges in managing their human resources effectively. These challenges include budget cuts, layoffs, and reduced investments in HR development programs. Moreover, financial crises often lead to increased job insecurity, reduced motivation, and decreased job satisfaction among educators, which can adversely affect the overall quality of education. newline newlineHowever, the study also identifies certain strategies and practices adopted by educational institutions to mitigate the negative effects of economic downturns on HRM. These strategies include implementing cost-saving measures without compromising the quality of education, fostering a supportive work environment, providing training and development opportunities, and leveraging technology for efficient HRM processes. newline newlineOverall, this research contributes to the existing literature by providing insights into the unique challenges and opportunities faced by HRM in the education industry during economic and financial crises. The findings can guide educational institutions,