Friday, February 20, 2009

Is it as bad as it is made out to be??

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!

Happy hunting!


Anonymous said...

What is recession?

This Story is about a man who once upon a time was selling Hotdogs by the roadside.
He was illiterate, so he never read newspapers.
He was hard of hearing, so he never listened to the radio.
His eyes were weak, so he never watched television.
But enthusiastically, he sold lots of hotdogs.
He was smart enough to offer some attractive schemes to increase his sales.
His sales and profit went up.
He ordered more a more raw material and buns and use to sale more.
He recruited few more supporting staff to serve more customers.
He started offering home deliveries. Eventually he got himself a bigger and better stove.
As his business was growing, the son, who had recently graduated from College, joined his father.

Then something strange happened.
The son asked, "Dad, aren't you aware of the great recession that is coming our way?"
The father replied, "No, but tell me about it." The son said, "The international situation is terrible.
The domestic situation is even worse. We should be prepared for the coming bad times."
The man thought that since his son had been to college, read the papers, listened to the radio and watched TV.
He ought to know and his advice should not be taken lightly.
So the next day onwards, the father cut down the his raw material order and buns, took down the colourful signboard,
removed all the special schemes he was offering to the customers and was no longer as enthusiastic.
He reduced his staff strength by giving layoffs.
Very soon, fewer and fewer people bothered to stop at his hotdog stand.
And his sales started coming down rapidly, same is the profit.
The father said to his son, "Son, you were right".
"We are in the middle of a recession and crisis. I am glad you warned me ahead of time."

Moral of The Story: It's all in your MIND! And we actually FUEL this recession much more than we think we do!!!!!!!!!!!!

Anonymous said...

Quite an interesting take, some similarities may be found below.

However Correction should last till April end, with take up happening from July onwards.