Living Recession 2009
Thinking of surviving 2009 sends a shiver down my spine...
“It was about five years back that I was looking for a house in Chennai. I had to get up at 6 in the morning and grab the newspapers around and get going with my job hunting. The pressure of settling down and getting my wife to stay in a small two bedroom flat was getting on my nerves. At one time I had doubts for getting married. In 2 hours time of an ad in the paper, the houses would be sold out. And each time it would be an IT guy who would have crumpled on my dream to get the flat I imagine of making a home. The lenders would happily sell or rent the flats to guys working in IT companies because of their fat pockets and growing industry trends”. That’s the story of Manav working with an advertising firm.
I certainly had the last laugh when all those people are now thinking of giving notices or doubting their job stability. The reason for this is certain. The recent 2008 global recession, which, as experts say did not have an impact on the Indian markets a lot. But now when we hear about Satyam fudging its funds and another company filing for bankruptcy give me Goosebumps to think about what is going to happen with the next pool of graduates and post graduates passing out in 2009 and the ones that are getting laid off by companies each day. The unemployment rate is going to rise exponentially is my worry.
Everyday I leave from office, I am not sure if I would find my entire team the next morning. Pink slips are finding their way to employees at rocket speed. Insecurity has crept in the air and around my bay. The people already in projects are confirmed to be safe for a while but the question boils down to how is the IT industry supposed to survive.
All my wishes to the batches passing out and the students who were thinking of starting their careers with the best brand on their CVs would have to run from gate to gate to find if there are job they could match with the skills and experience required. Never would the best talent in colleges would have thought of getting to use their personal contacts for getting into companies. They too are helpless. The recruitments portals are though having an icing in the cake when they are getting the best thought traffic and a large chunk of talent visiting these sites daily.
The young minds though are not going to be quiet as it is likely that their will be a huge rush towards entrepreneurship and start up businesses by these enthusiastic candidate pool. It will again give way to what happened in the era of liberalization. There will be whole new chunk of ideas rolling up sleeves and an opportunity to prove their worth.
All the lessons learnt are that there should always be an extra income for you survive the contingency period. Learning from this I have decided to put my money safe fixed deposit schemes or buy gold and worst in case scenario, give the money for loan and earn interest on the same. And that both the spouses should not be working in one company considering uncertain future. This can definitely give a jolt to couples like it already has to a couple (both working with Satyam) recently got married and were on their honeymoon where they got the news of company sacking 15000 employees. The pink slips being a gift for their weddings
While we all taste theis bids of recession this year, I wish all the luck to the new chunk of freshers passing out this year. Just pray for them to stay cool and find opportunities where they can work as interns and get some industry experience till they land up in good profiles.
“It was about five years back that I was looking for a house in Chennai. I had to get up at 6 in the morning and grab the newspapers around and get going with my job hunting. The pressure of settling down and getting my wife to stay in a small two bedroom flat was getting on my nerves. At one time I had doubts for getting married. In 2 hours time of an ad in the paper, the houses would be sold out. And each time it would be an IT guy who would have crumpled on my dream to get the flat I imagine of making a home. The lenders would happily sell or rent the flats to guys working in IT companies because of their fat pockets and growing industry trends”. That’s the story of Manav working with an advertising firm.
I certainly had the last laugh when all those people are now thinking of giving notices or doubting their job stability. The reason for this is certain. The recent 2008 global recession, which, as experts say did not have an impact on the Indian markets a lot. But now when we hear about Satyam fudging its funds and another company filing for bankruptcy give me Goosebumps to think about what is going to happen with the next pool of graduates and post graduates passing out in 2009 and the ones that are getting laid off by companies each day. The unemployment rate is going to rise exponentially is my worry.
Everyday I leave from office, I am not sure if I would find my entire team the next morning. Pink slips are finding their way to employees at rocket speed. Insecurity has crept in the air and around my bay. The people already in projects are confirmed to be safe for a while but the question boils down to how is the IT industry supposed to survive.
All my wishes to the batches passing out and the students who were thinking of starting their careers with the best brand on their CVs would have to run from gate to gate to find if there are job they could match with the skills and experience required. Never would the best talent in colleges would have thought of getting to use their personal contacts for getting into companies. They too are helpless. The recruitments portals are though having an icing in the cake when they are getting the best thought traffic and a large chunk of talent visiting these sites daily.
The young minds though are not going to be quiet as it is likely that their will be a huge rush towards entrepreneurship and start up businesses by these enthusiastic candidate pool. It will again give way to what happened in the era of liberalization. There will be whole new chunk of ideas rolling up sleeves and an opportunity to prove their worth.
All the lessons learnt are that there should always be an extra income for you survive the contingency period. Learning from this I have decided to put my money safe fixed deposit schemes or buy gold and worst in case scenario, give the money for loan and earn interest on the same. And that both the spouses should not be working in one company considering uncertain future. This can definitely give a jolt to couples like it already has to a couple (both working with Satyam) recently got married and were on their honeymoon where they got the news of company sacking 15000 employees. The pink slips being a gift for their weddings
While we all taste theis bids of recession this year, I wish all the luck to the new chunk of freshers passing out this year. Just pray for them to stay cool and find opportunities where they can work as interns and get some industry experience till they land up in good profiles.
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