Wednesday, October 15, 2008

Global Economic Crisis - What's Happening with Jobs?

During the past couple of weeks, one has been constantly barraged with all the bad news that a financial upheaval can bring. Comparisons have been drawn with the great Depression, and the dot com bust.

As a recruiter - I can feel a definite slow down-but am not yet sure what the inertia is due to. One could perhaps 'optimistically' blame the holiday mood- the Dussera did ensure that if the client was willing to conduct interviews, the candidates were already committed to travel. And if both the hiring manager and the prospect were keen, the HR person was away ;-)!

A lot of it also could be attributed to the "uncertainty" due to the sudden crash in the stock markets too. There was a lot of excuses to get distracted from work.. and so there does not seem any tearing hurry in closing positions!

Some of it could be debitted to "organisational restructuring" exercises likely to be impacted! Already some major IT biggies have revised downward their guidances for hiring.

I know for sure, a couple of global IT companies -have decided to make some drastic changes to the "strategy"! One has decided to centralise its Business Development activities -and run them from India. So, henceforth, while all geographical markets would be serviced by local executives, the business development strategy will be controlled from the corporate office-with the person looking after all the different service offerings within a specific market.

Another company has decided to offshore the 'marketing' department to India-atleast the cell related to product management -and other market collaterals-

Well-I must admit though -most of us were stumped by one particular company " 'hired, fired and hired again ". It is all happening, right?

Meanwhile, here is a sample of some of the openings that keep us busy@ Options :
Associate Director-Financial Services MNC
VP Sales in SCM domain for Asia Pac
HR Manager Hitech MNC
Senior Technical Manager-Online Gaming
Senior software engineers in Java
Miscellaneous roles in Training, Real Estate & Hotel sectors
And yes, all those positions in the power and infrastructure industry are ON!
Have a great weekend.

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