2008 had not been very successful for workers around the world. Many well-qualified professionals have lost their jobs. Layoffs are just a part of our daily life. Moreover, experts say that it will take another two years for the situations to get back to normal.
People are scared to join new companies, as they do not feel very confident about the financial condition; especially when someone is joining the lower end of the ladder. As a new recruit, they do not have enough information on the internal mechanism of the company. The situation is worst for the middle tier professionals as they have much more at stake than a fresh candidate does.
So, how is the situation now? What will you do? Will you look for a new job or stay in the current company? Do you need to start looking for other income sources to stay well prepared for adverse situations?
So, how is the situation now? What will you do? Will you look for a new job or stay in the current company? Do you need to start looking for other income sources to stay well prepared for adverse situations?
What normally happens during a layoff? Unless the situation is too bad, companies mainly look for people who are not performing well or they look for employees who are not directly associated with the revenue generation frame – the extras. We also do the same thing when our budget is tight – we look for cheaper alternatives. For example, if the budget is tight, we will look to meet our essential needs rather than going out in an expensive vacation.
To avoid such situations, you must be a good performer in your department. There is no alternative to this. In addition, this is not just for the tough period. If you want to walk up in the corporate ladder, you must be a good performer throughout the time.
We often see that, to fight with tight conditions, companies outsource some operations or department. What do you do when you are the unlucky person to belong to that department of the company? Once the department is moving, you do not have much option left but to start searching for greener pastures. However, as a thumb rule, always try to go close to the moneymaking sectors of a company. If you are directly contributing to revenue generation model of a company, there are less chances for you to be laid off. However, always remember that constant performance is the key.
If you are planning for a job search, it is time to think twice before you leap. You must do enough research to find out the stability of the company. Apart from that, also find out how your job profile is going to add to the business model of the company. It is always better to stay off from a startup company at this moment, unless you find enough positive reasons to join them. You should look for stability rather than going out for lucrative offers or packages. However, it all depends on your risk taking capabilities and available options.
In addition, there is nothing like a second stream of income if you want to keep things moving. However, many companies do not permit investing time or money in other businesses or working as a freelancer. Thus, before you start anything be sure about reading the terms and conditions once again. Moreover, do not do anything that may harm your performance in the current company.
By: Steve McMains
Steve McMains is a media professional and writes for different online publications on media and advertising industry.
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