Yahoo! Finance: "Redefining personal finance for India's middle class" --> FREE Limited time offer: HR Zone » General Awareness » Trauma of Recession !!! - What Will Happen Next?
Type: HR, Report if not a HR topic
Hello Manju - thanks for replying. Appreciate your thoughts and analysis. The points you made make a lot of sense.
Thanks for sharing!
Looking forward to hearing from other members.
2126 Views
5 Replies
2126 Views 5 Replies+1
Trauma of Recession !!! - What Will Happen Next?
Type: HR, Report if not a HR topic
Posted 09-11-2008Reply
Dear All,
As I read the daily reports of retrenchments and further recessions happening in and around us. I had few questions in my mind I’d like to share with you all and also seek answers.
1) When experience candidates themselves are facing the risk of losing jobs, what would happen to all the lakhs and lakhs of fresher’s from different streams right from Arts to Professional courses?
2) If someone is planning to start up a company is it wise now? Or what sector can he/she be concentrating now?
3) What is the best idea/suggestion given to those people who have lost their job now? What can one do after losing their job?
4) How long would this recession be? Would there be further disasters or would it end?
Regards,
Arsha
Dear Arsha,
It is true, retrenchments are happening. Some people have lost their jobs due to the current economic slow down. As for the fresher’s, it will be difficult for them to get jobs, sad but true. This is not one of the best times to go job hunting. Maybe, you can go for higher studies or work part time somewhere.
If you are planning to start a new company, it may be good and bad at the same time. Bad because funds are low for almost every organization, so the internal departments will be on a cost cutting drive. Even if you manage to get business, you will get a minimal share. Good because, it is a good time to hire people if you have the money. Jobs are few in the market and a lot of people looking for jobs. Hence it increases your chance of stumbling across bright candidates.
The best idea for the few unfortunates to have lost their jobs is to hang in there. Not to lose hope, engage yourself in some part time money making activity. The economy will come around and they will be valued then.
If financial experts in the industry are to be believed, the economy will take not less than 2 years to come around. Would there be further miseries? We can only hope and pray that the worst is over.
regards
Manju
It is true, retrenchments are happening. Some people have lost their jobs due to the current economic slow down. As for the fresher’s, it will be difficult for them to get jobs, sad but true. This is not one of the best times to go job hunting. Maybe, you can go for higher studies or work part time somewhere.
If you are planning to start a new company, it may be good and bad at the same time. Bad because funds are low for almost every organization, so the internal departments will be on a cost cutting drive. Even if you manage to get business, you will get a minimal share. Good because, it is a good time to hire people if you have the money. Jobs are few in the market and a lot of people looking for jobs. Hence it increases your chance of stumbling across bright candidates.
The best idea for the few unfortunates to have lost their jobs is to hang in there. Not to lose hope, engage yourself in some part time money making activity. The economy will come around and they will be valued then.
If financial experts in the industry are to be believed, the economy will take not less than 2 years to come around. Would there be further miseries? We can only hope and pray that the worst is over.
regards
Manju
Dear Arsha,
It is true, retrenchments are happening. Some people have lost their jobs... See Manju's complete reply
It is true, retrenchments are happening. Some people have lost their jobs... See Manju's complete reply
Hello Manju - thanks for replying. Appreciate your thoughts and analysis. The points you made make a lot of sense.
Thanks for sharing!
Looking forward to hearing from other members.
Helo Arsha - thanks for the post.
Many people are concerned about this... and have similar questions that you had. Currently, this is the most talked-about topic / challenge.
I'm looking forward to see more discussion and inputs and suggestions / solutions from other members.
Many people are concerned about this... and have similar questions that you had. Currently, this is the most talked-about topic / challenge.
I'm looking forward to see more discussion and inputs and suggestions / solutions from other members.
Dear All,
I found this link, thought it would be useful. Please click on this link to follow up or else pls. do cut and paste it...!!! Its all about 7 Secrets for Surviving a Layoff in a Down Economy. If not for you, it might be useful of someone who would require it badly..Kindly ask them check it out...!!!
http://www.networkworld.com/news/2008/110608-7-secrets-for-surviving-a.html
I found this link, thought it would be useful. Please click on this link to follow up or else pls. do cut and paste it...!!! Its all about 7 Secrets for Surviving a Layoff in a Down Economy. If not for you, it might be useful of someone who would require it badly..Kindly ask them check it out...!!!
http://www.networkworld.com/news/2008/110608-7-secrets-for-surviving-a.html
+1
Recently in HR Forums
06-04-2023
to the forum topic 
