Tag: layoff

Employment trends in the future

~ Someonewise ~ Leave a comment

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

  1. Engagement of resources on the consulting basis – Project-specific, Assignment specific, Location-specific, or tenure specific.
  2. Compensation will be prefixed before the completion of the activity and not for continuous employment.
  3. 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
  4. Employees can convert themselves as freelancers and deliver the expectation of the company tenure basis, or at regular intervals monthly, quarterly, or yearly.
  5. Employees can propose guaranteed deliverables as a consultant and earn double the wages in a short span.

Advantages

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

-Sucheta Gour

How to survive without much difficulty after a layoff or pay cut?

~ Someonewise ~ 2 Comments

Companies are contributing funds for the pandemic PM cares or any other source on one hand and, retrenching (laying off) people on the other hand/ holding vendor’s payments/ announcing for pay cuts.

When there is no money to fund their own employees’ salary, why is this ‘charity – show off’ going on is what every employee/vendor might be thinking of. It is all about maintaining balance in the ecosystem.

There are two ecosystems in which every Company operates. One, the ecosystem of the organization – the Company, its employees and their families. And second ecosystem, the actual society in which we all live the Company with its employees, workers, vendors, clients and the whole of the people in the city, state, country, and world. The company’s ecosystem is a small part of the second ecosystem, the larger one. When you support the larger ecosystem to survive is when you survive.

Similar to the instance that, you can’t exhaust all the oxygen in the air by consuming off and live on oxygen cylinders at home.

In a population of 130 cr, Around 50 crore population is in the labor category according to 2015 stats. They are at the base of every Industry. And so they serve the base of society’s ecosystem too. If this population is affected, then every project, every company, every society goes for a toss. So it becomes the utmost ethical responsibility of every individual, every government and every Company to care for this class of the society.

If there is a pay cut or layoff for someone in an executive role like us, definitely we won’t starve without food, but will sustain at least three months, though our luxuries like EMI for a home loan, car loan might get affected in a major way, our psychologies will be affected. Our luxuries, savings, and net worth will come down. But with appropriate support from family, friends, and psychologists we will overcome it. We will emerge much stronger because adaptability is our inbuilt skill when we humans were created. We are educated, smart and tactful. But the workers or labor class who are struggling to earn their daily bread to survive for the next day won’t be able to sustain even a week with no food, no money, no job scenario. We are in a much better position.

So support the Companies who are supporting the society. Let us not create a hew and cry on the compromises on our luxury. Let us bounce back better and stronger.

Follow the blog :
How to survive without much difficulty after a layoff or pay cut?
Industry employment trends after the pandemic which you can take advantage of
Employment trends / After effects worldwide after Pandemic.

-Sucheta Gour