Vol. 2 no(prenominal) 5
HR Strategies for Turnaround Management:
A Case excogitate of Rourkela Steel Plant
Archana Choudhary*, Assistant professor (OB & HR), BIITM
Parmeswar Nayak, Professor (HR), BIMTECH
SnigdhaTripathy, Associate Professor (Economics), KSOM, KIIT University
Abstract
Human resources are the most important assets in pickings any organization forward even if the organization is
passing technology centred. Based on this conviction, Rourkela Steel Plant (RSP) started its locomote of
turnaround from declining state to a profitable one. A serial publication of HR interventions were taken to tap the unlimited
potential of human resources and whose focal point was survival and future existence of RSP. This article
discusses the various HR interventions taken by Rourkela Steel Plant over a peri od of three years to revive from
a loss-making to a profit-making organization.
Keywords: Turnaround, Corporate, Decline, Employee Motivation, Management, HR Strategies
1.
A Brief on Turnaround
In at onces times a lot of emphasis is disposed on the issue of c orporate bloodline and turnaround heed by the
managers, consultants and researchers across the globe (Bruton, Ahlstrom, and brainsick 2001; Chanda 2002;
Collins, 2003; Gerstner, 2001; Harvard Business School, 1999 -2001; Mone, McKinley and Barker,1998). This
anxiety may be attributed to greater incidence of firm decline arising from increased competitiveness and
openness of the global economy (Cameron, Sutton and Whetten, 1988a; Witteloostuijn, 1998;). However, most
studies on organizational turnaround have been conducted on firms established in developed countries especially
in North America and Europe (Bruton, Ahlstrom and Wan 2001). These studies typically assume that
management of these organizations have considerable impropriety when it comes to removing the incumbent
ISSN: 2249-9962
May|2012
www.ijbmt.com
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