Protect Your Job. 10 Hot Tips as economic slowdown affects companies.
Its now in the open! It’s a fact that the industry as a whole has been seeing low traction for over 6 months. This would have been caused primarily by an indication of rigidness among foreign importers and the subsequent tentativeness among all affected (directly and indirectly)
The recent IIP figures show where we are heading. Till the global economy recovers, Indian industry and service sector will be under great pressure.
Companies are forced to lay-off or re-deploy workers, as expected orders melt away. No one is safe anymore. So how do we protect our jobs?
- Take up Additional Responsibility, and make yourself Actually busy. (Many people were happy to do 9 to 5 job with hardly half the time spent effectively. They never take up extra chores. If a colleague is absent, so be it.)
- Learn otherwise unrelated works in an office and Offer yourself for work in other departments when need arises. (For eg. Engineering Managers could involve in Purchase, Sales, Maintenance Production)
- Avoid all leaves. No half days; No vacations. (Your seat may not be there when you return)
- Take Active interest in Company’s Affairs. Empathies with falling order levels and offer to help in all ways possible.
- Agree to Salary Cuts. Cooperate with the management
- Even if you are not in Marketing, try and get references and possible orders for the company, through contacts which you may have never otherwise used!
- Do not “Show Act” to make Management believe that you are busy and important. Actors will face the axe first.
- Enhance your knowledge in different areas of work by participating in quick Training Courses, become useful in different departments and contribute to Company.
- Reduce /avoid all miscellaneous office expenditure (Stationary, local Travel, Entertainment etc)
- Economize on use of Car during Tour / Stay/Travel in class below your eligibility
FOLLOW ABOVE STEPS TO RETAIN TOUR JOB.
Consequent to the Housing Bubble, the run on the banks and Financial Institutions started in 2007 with a string of failure by funds including two from Bear Stearns. All hell broke lose when in March 08, Carlyle Capital followed by Bear Stearns collapsed. The collapse of US and International Financial System hastened from March 2008 .
Tension started mounting with investors becoming jittery. In June 08, $32b Indimac Bank collapsed. From July 08 onwards hallowed institutions once perceived to be the ultimate symbols of capitalistic world economy, started withering and crying for help. Some were handheld, while others like Lehman, were left to bleed and wither away.
Fannie Mae, Freddie Mac, Lehman Brothers, Merrill Lynch, AIG, Goldman Sachs, Washington Mutual….the ever growing list is threatening to snowball into a complete collapse of US economy.
With the entire Financial System under threat of collapse and with monstrously huge companies like GM, Ford etc crying for help, the world is awakening to the threat of wide spread contract cancellations and job loss.
The Indian economy had blossomed due to the direct and indirect impact of booming exports og goods and services including Software. Whatever be the industry, the ultimate reason of growth can be traced to export. If FMCG has boomed, its because of the increasing buying power of the people employed by host of exploding industries, IT, service and infra firms. Anything and everything that you look at, eventually will lead to demand created by exports.
It will take time, may be years, for the economy to be back on rails. So be prepared, do not commit on any large investments like Houses or Car, till job environment becomes trouble free.
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