Emphasis to shift from Company and Salary to Sector and Sustainability Criteria for job security now will not be gauged by How stable the company is? How comfortable the job is? How highly am I paid? But Which sector is sustainable at most of the times even in crisis? What is the growth graph of this sector? At what intervals the graph shows a decline? Which deptt or skill I should be in to not be replaced by automation, digitalization or robotization? How can I not become redundant in the organization? How much can I save in this job? Will I get paid throughout my career in this sector?
Humbleness is a curse or a blessing? It’s a curse when people look down upon you. It’s a blessing when they value your worth. 99% of the people feel you are unworthy, weak, moronic when you are humble. That’s the reason you find very few of them.
What should motivate you to be humble? Mere reason that you should respect every single person either for his/her knowledge, or position, or age motivates you to be humble. And respect will be earned only when you respect others.
Employment trends in the future 2008 recession gifted the words ‘lay off‘ and ‘automation‘ 2019 pandemic has gifted the words ‘ ‘furloughs’ and ‘pay-cut’. During all these scenarios, employees have to empower themselves to survive, sustain, and grow. Uncertainties are obvious in spite of belonging to any Organization. Why not design our challenges and make the most of it?
Employment trends in India are undergoing a transformation with every disaster. With the compulsion of work from home model, better monitoring and measuring tools will be adopted and implemented in every organization.
Future trends of employment will be
Engagement of resources on the consulting basis – Project-specific, Assignment specific, Location-specific, or tenure specific.
Compensation will be prefixed before the completion of the activity and not for continuous employment.
The competition will be cut-throat. Instance – • Engaging a resource to complete 300 drawings by draftsman or designers • Engaging a designer to design a component in a specified time and compensating in accordance • Validation of data by experienced resource within a fixed timeline
Employees can convert themselves as freelancers and deliver the expectation of the company tenure basis, or at regular intervals monthly, quarterly, or yearly.
Employees can propose guaranteed deliverables as a consultant and earn double the wages in a short span.
Employer – • Cost-effective in terms of overheads for Full-time employment, Infrastructure cost, Performance management, Employee Engagement, Accountability, Delivery guarantee. • Cost reduction on the support team to manage a huge Employee base. • Elimination of cost on training and development.
Employee : • Can work at their will and at their convenience, • More time with family, • Earning dependant and directly proportional to their willingness to expand their bandwidth and updating of their knowledge. • No cap on their earning limit. • No being exhausted in long travel hours. • No Managers to meddle with career growth or • No involvement in office politics.
More details on adapting and proposing your worth to Companies as an employee
Whose jobs may be at risk with this evolution of the industry? How is the industry trying to plan its efficiency with respect to resources? Every company is facing unknown risks. And every company is uncertain about economic progress.
The calculation of damage from COVID-19 will continue for at least 18 months. Working capital will be impacted, Inflowing business analysis will fluctuate hugely to sustain the market. In such a scenario, the order of cost-cutting will be – resource retrenchment, pay cuts, and infrastructure cost reduction.
Recent Hires – Last come to go first. The company has not experienced the performance of a new joinee. And the resource has still not proven his credibilities to count on his performance. So their jobs might be at stake.
Support departments – HR/ Accounts/ Procurement/ Quality etc., or any such areas not driven directly by P & L – such jobs which may be digitalized or outsourced – need basis or consulting basis. the other option is the volume of work can be increased and the number of resources can be reduced.
Coordinating jobs – Any coordinating jobs like project coordination, procurement coordination with cross-functional teams that can again be digitalized with single window interaction.
Supervisory levels – Multi-levels of supervision like Asst Mgr, Manager, Sr Manager which can be replaced with more number of reportees to one person keeping the hierarchy less complex.
Repetitive jobs – Quality check by different people, purchase activities, or back up resources where accountability can be increased with one person.
Costlier resources – Resources at Sr level or expensive resources at any level. Since now themarket will be flooded with resources willing to join on same salaries as earlier or lesser too to survive and sustain, hence costlier resources will be on target
Less adaptive, less proactive: Resources with will issue, or poor interpersonal skills. Not flexible enough to own additional responsibilities at this time of crisis. Sticking to the expectations given at the time of joining and not understanding the changed scenario and multi-task after COVID-19. Not willing to take up end to end accountability.
Continuous mentoring and monitoring Employers, Sr Management and Managers have two choices in this scenario – invest your time in strategic planning, business acquisition, financial planning
Exhaust your bandwidth in building better understanding, repetitive training, hand-holding your team members in delivering, In such a scenario such employees are preferred who are fast learners, self-motivated, better skilled, have a better understanding, better committed, more positive and take the ownership.
Of course, certain sectors like tourism, auto, airlines, retail, are affected by the rule and even the best of the employees will have to be losing jobs here. Or a few more have lost jobs due to traveling back to their native places or not having internet connectivity to work from home. Its an extraordinarily challenging, demanding situation for the whole world. Learn to prioritize the organization, if the organization lives, you live. STAY PUT, BE FLEXIBLE. WORK MORE to align with this crisis.
Follow to read about the employment trends in India in the days to come.
Enjoying luxuries. Such an important component for a stable world economy. “World economy is collapsing because we are buying only what we need” So finally realized, that, the world economy is flourishing because of our luxuries and not because of our needs.
What an irony of our lifestyle? We are contributing to the world economy because we are enjoying a luxurious life and still complaining that we are not enjoying enough. The economy had achieved its boom before lockdown only because of all our efforts in keeping our luxuries as our utmost priority. Leading a grounded and simple life with basic essential necessities is like a sin in today’s world. Enjoy more, lead a more luxurious life, avail more loans for buying unwanted things or needs for the use of 10 yrs later. And eventually, dump it because it’s no more on the trend. Or buy things for one-time use and then dump it. Fill up your home, space with things that we will need to show off. And compromise on your needs. When trends change dump them and again chase the trend. This is what we’ve been doing all these years in this generation. Keep it up.
How to sustain this Pandemic as a Company? After-effects of the pandemic will be in ‘n’ numbers. All the addressable now are for the moment. To address the impacts and analyse the project, client and vendor behaviors, which is going to be of dynamic nature is the real challenge. Demands, Expectations, Approach – everything is going to vary. So plan, replan wisely.
Lower your margins.
Analyse costs in a diligent way and plan sustainability for the next 24 months
Cut down additional costs
Have only effective, flexible, integral and result oriented people in the organization.
Introduce multi-tasking as a way of work.
Set goals in accordance with the market scenario, measure the performance and take faster actions. Learn to be impatient to survive.
Automate repetitive or less human interactive jobs
Implement kaizen every quarter. Observe market changes at regular intervals. Analyse the need of the hour. Apply what works.
Adopt, Implement and Adapt strategies in the least TAT
Diversify in the business
Take up services you considered lower level in the past for your organization.
When the Amazon rain forest was on fire, we lost 2.3 million animals. When Australian forests caught fire, 1 billion animals died. Forget about mourning or taking corrective actions, we weren’t even bothered to make ourselves aware of the numbers.
And today here we are counting deaths and affected cases in every country. Making news content and selling it again. Panicking looking at the death toll.
Because our fear for death is so huge and deaths in the forests were from other species and deaths now are from our own species. So PANIC? We are just paying for our sins. Why shouldn’t there be acceptance now?
If we want to say we are fearing for our families? Then we weren’t born with them or were not supposed to die with them either. They lived before us and we’re supposed to live after us too. God has plans for the animals with no mouth to speak, brains as superior as ours or strength to express. He will take care of them to. We only cared takers for our family, facilitators …not the CREATOR HIMSELF. And we are destined to die on the day he has decided. NOT A MINUTE EARLY OR LATER. So stop panicking. Life begins at a point where the fear of death vanishes. Live without fear, majestically and with empathy for all HIS CREATIONS of any species.