Employee Perception during Restructuring: With Reference to Public Enterprises in India

Abstract

Globalization coupled with the endeavors towards liberalization and privatization has resulted in drastic changes in the environment of the public sector enterprises which in turn has affected the manner in which these enterprises conducted their business, both internal and external. The focus on cost effectiveness and efficiency has resulted in the entrepreneurial manager in the public sector, where the focus is on certain features like business acumen, creativity, proactive, task orientation, result orientation, performance orientation, quality conscious, customer-centric, etc. and the all the more important one being the introduction of business environment and principles in the functioning of the public sector enterprises. Given such changes sweeping across the world coupled with the impact on public sector enterprises, the perception of the human resources towards such change and the corollary organizational restructuring assumes importance. As human resources are the pivot around which the entire organization, including the public sector enterprises, functions, it is but natural that the perception of the human resources – employee – towards organizational restructuring assumes importance. If the public sector enterprises have to grow, they need to have an agile and an adaptable workforce which is positive towards organizational restructuring and change management. The present research is a primary survey to understand the employee perceptions during the process of financial restructuring with regarding the changes in the investment mechanisms, financing patterns, revenue generations, cost control and other issues in selected public sector enterprises.

Keywords: Public Enterprises, Reforms, Restructuring, Perceptions, Investment, Welfare

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