America is in recession. The number of economists bluntly claiming this theory is outpacing the number of economists defensively claiming that America has still got a chance. Recent slowdown in the Indian industry augurs that, because of this American recession, in India we may see a slowdown, if not a full-blown recession. During the last recession of 2002, I was a fresh college graduate and then the challenge was to get my dream job. Cut to 2008 - if the recession strikes, the challenge, I face, is to retain what I have. I lost the battle against the recession in 2002 because I was caught unaware. But this time, I am preparing for the battle, which, if the economists are to be believed, will continue for at least 2 years (Should I call it a war and not a battle? Literary confusions!).
I know, managing my career successfully will win me the battle and that brings me to the question – how to. Previously, I had decided that I would not enter into the people management so early in my career because I feel that I can understand the business better by managing the product and not by managing the people. A good side-effect of this decision is that I have a better chance of survival in this recession. I say this because the surveys done on recession indicate that, during a recession, middle management has a higher probability of getting laid off in the name of “flattening the organization” (Click here to see the results of one such survey). They mean it when they say, “managers are overhead”. However, I cannot be complacent just because I am not a manager and I should take steps to make myself recession-proof.
The self-proclaimed “recession experts” suggest, in their writings, to work hard and make myself indispensable. But, believe me (?), I have been working hard ever since I started my career. And, how could I be indispensable, if my whole department gets laid off? Negative thoughts hit before and harder than recession! The other suggestions they give are network and make contacts, find additional income sources and invest in education. These suggestions seem to be effective but may not be appropriate in all kind of situations.
Right now, I am confused and I have not zeroed upon my course of action. But, one thing I am sure of is that I am going to take conscious, proactive and informed decisions to decide my career path in this recession. Whatever may be the outcome of this battle against the recession, I will fight.
I know, managing my career successfully will win me the battle and that brings me to the question – how to. Previously, I had decided that I would not enter into the people management so early in my career because I feel that I can understand the business better by managing the product and not by managing the people. A good side-effect of this decision is that I have a better chance of survival in this recession. I say this because the surveys done on recession indicate that, during a recession, middle management has a higher probability of getting laid off in the name of “flattening the organization” (Click here to see the results of one such survey). They mean it when they say, “managers are overhead”. However, I cannot be complacent just because I am not a manager and I should take steps to make myself recession-proof.
The self-proclaimed “recession experts” suggest, in their writings, to work hard and make myself indispensable. But, believe me (?), I have been working hard ever since I started my career. And, how could I be indispensable, if my whole department gets laid off? Negative thoughts hit before and harder than recession! The other suggestions they give are network and make contacts, find additional income sources and invest in education. These suggestions seem to be effective but may not be appropriate in all kind of situations.
Right now, I am confused and I have not zeroed upon my course of action. But, one thing I am sure of is that I am going to take conscious, proactive and informed decisions to decide my career path in this recession. Whatever may be the outcome of this battle against the recession, I will fight.
1 comment:
Hi Mr. Bhanawat,
You have nicely outlined the impeding scenario and also the ways in which one can prepare for the looming recession.
The article reminds me of the book "Who Moved my Cheese" by Spencer Johnson.
One more thing one can do in such a scenario is to get a real assessment of one's market value beforehand. This can be done by appearing for an interview once a year in some company which one does not intend to join.
This helps in building confidence of facing interviews and one knows the intrinsic 'monitory' value one has, which is very useful when a person needs to switch jobs.
Just one of the survivorship rules I've heard... :-).
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