These days it is almost impossible to have a conversation without referring to the recession or slowdown! While some argue articulately with a lot of facts and figures, there are a lot who would like to dismiss it as a correction that was necessary!
It is very interesting to note the two perceptions-one at a national level & the other global job markets.
Excerpts from the Business Standard interview with Naukri CEO Sanjeev Bikhchandani-where he is pessimistic in the next 6 months but optimistic in the next 12 months:
- some level of unfreezing is taking place in the jobs market
-most companies are looking for short term sales not long term marketing!
-contrary to the feeling that more people would be looking for jobs, those in jobs are sitting tight, accept a zero-hike, even a pay cut, but they are not looking around.
-campus placements-Fewer companies are coming, and offering lesser jobs and at lower salaries
On a global scale, (hat tip my pal Gautam Ghosh blog) a leading search consultant quips;
1."we’ll see more cuts at many firms before hiring picks up. “Generally what happens with service firms is in a downturn, they don’t right-size themselves quickly enough. And so in a downturn, they’re trailing indicators,” .
2.firms are hiring—it’s just that now they want a different type of consultant. Someone who is a trusted adviser with real content knowledge who can serve in a very specific role. Especially candidates who have hybrid experience.
Personally I think it has got to do with the relative expectations!! If in July 08 the index was 1000, (one expected it to grow, keeping in trends with the immediate 5-6 quarters -to 1400. As against that, )the present index now @ 700 odd- would not truly indicate the disappointment of the drop in 26% of the index!!
While I feel vindicated about my observations last month, I am a little concerned about the general lack of business confidence all around.
-the Indian market , barring realty and auto, should not really be affected by the slowdown.
-there has been a decent gesture from the Government to spur liquidity in the system-even if the quantum may be debate-able.
-Or is there a sense of inertia -thanks to Satyam, and the related corporate governance issues that force most companies to be less aggressive now?
Well, the good news is that we at Options have a variety of assignments-that are keeping in line with above sentiments!
A.Increasing activities to bring in money
a) a lot of business development opportunities as IT companies expand in to new geographies and verticals ( Positions exist for people with 8-12yrs experience in US, Europe, UK, Australia-and Singapore).
b) business development activities due to innovative product mix -eg SaaS-Head of Sales in Mumbai.
c) change in business model eg Channel partners in the Advertising & marketing space, Director Engineering , Director IT services.
d)New jobs- setting of power plants- eg VP Projects, Head Budgets, Head -transmission & distribution
B. Replacement recruitment positions- in a bid to refill the positions left vacant-but now altered to make the roles more wholesome. eg Country Manager for a MNC telecom repair company
Please feel free to reach out to [email protected], and I shall keep you updated about the subtle nuances each role demands now :-)! We are working much more closely with our associates across the country-in a bid to decrease the response time, while not compromising on the reach .
There are jobs-but the companies are just getting a lot fussier! And take a lot more time to choose. It is time for each of us to add value -in our own ways-to get counted among!