According to our western view, we believe India has already been grappling with overpopulation for the past three decades. Even a recession cannot change their struggle for survival, as economic growth has not alleviated their challenges. The same people who were struggling then are facing similar difficulties today during the recession. What difference would a recession make to the lives of people in India? It has always been a struggle due to the scarcity of resources. For the average Indian, the struggle remains the same whether the economy is booming or gloomy. The intensity may fluctuate slightly, but the overall struggle for survival for Indians remains constant in their day-to-day lives.
Regards,
Captain
From Saudi Arabia, Riyadh
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3Regards,
Captain
From Saudi Arabia, Riyadh
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Job Market Has Always Been Tight In India Even During Boom Time Except It Sector And Service Sector. Everything Was The Same For Real Manufacturing Jobs. Old Economy Jobs Did Not See Any Growth.
It's The Same Struggle For Job Search; Nothing Has Changed Except Job Advertisements On Naukri.com And Other Job Sites Are Empty These Days.
Terrific Times These Days As Before.
Badlu
From Saudi Arabia
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It's The Same Struggle For Job Search; Nothing Has Changed Except Job Advertisements On Naukri.com And Other Job Sites Are Empty These Days.
Terrific Times These Days As Before.
Badlu
From Saudi Arabia
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Job market has always been tight in India even during the boom time, except in the IT sector and service sector. Everything was the same for real manufacturing jobs; old economy jobs were not seeing any growth.
It's the same struggle for job search; nothing has changed except job advertisements on Naukri.com and other job sites are empty these days. It's a tough time these days as before. What has changed is our expectations have gone down.
Best regards,
Badlu
From Saudi Arabia
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It's the same struggle for job search; nothing has changed except job advertisements on Naukri.com and other job sites are empty these days. It's a tough time these days as before. What has changed is our expectations have gone down.
Best regards,
Badlu
From Saudi Arabia
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I agree with the idea proposed by badlooser that in all sectors other than the IT sector, there is always a job crisis. However, we should look at it from a different perspective. During this recession, inflation is also decreasing, and many other changes are occurring. Therefore, I do not believe that this recession is significantly affecting the Indian economy.
From India, Delhi
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From India, Delhi
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People always talk about the Indian economy, job market, and other big things which I don't understand. But whatever changes happen in India, they rarely affect the common man. The common man has to struggle to survive every day, and it does not matter to him where India's economy is going or what a recession is.
From India, Pune
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From India, Pune
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Hi All,
Yes, I strongly agree with Ravi that the common man is struggling just as they were before the recession. One of my close friends quit his job at the beginning of November '08 and still has not found a new job. He has attended almost five interviews in the banking and insurance sectors, but the response from HR remains the same - the recruitment process is frozen, yet they continue to conduct interviews. I don't understand why interviews are being held when recruitment is not taking place. The common man is the only one suffering and struggling.
Regards, Preeti
From India, Mumbai
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Yes, I strongly agree with Ravi that the common man is struggling just as they were before the recession. One of my close friends quit his job at the beginning of November '08 and still has not found a new job. He has attended almost five interviews in the banking and insurance sectors, but the response from HR remains the same - the recruitment process is frozen, yet they continue to conduct interviews. I don't understand why interviews are being held when recruitment is not taking place. The common man is the only one suffering and struggling.
Regards, Preeti
From India, Mumbai
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Hi All,
Yes, I strongly agree with Ravi. The common man is the only sufferer and struggles. The rich man is becoming richer day by day, and the poor are becoming even poorer.
The banking and insurance industry has frozen recruitment for a long time. One of my close friends quit his job in November, and he still has not found any job as recruitment is frozen until April. The victim is the common man.
I pray that recruitments open as soon as possible in the banking and insurance sector, and my friend gets a job along with others who are looking for openings.
Regards,
Preeti
From India, Mumbai
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Yes, I strongly agree with Ravi. The common man is the only sufferer and struggles. The rich man is becoming richer day by day, and the poor are becoming even poorer.
The banking and insurance industry has frozen recruitment for a long time. One of my close friends quit his job in November, and he still has not found any job as recruitment is frozen until April. The victim is the common man.
I pray that recruitments open as soon as possible in the banking and insurance sector, and my friend gets a job along with others who are looking for openings.
Regards,
Preeti
From India, Mumbai
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Dear all,
There is so much news about global meltdown and yet there are contradictory and inconsistent reporting by the media.
Read and ignore the news at the end of this note
My two cents thoughts is to ignore the fact that TCS and WIPRO had earlier opted out of IIT because of the attrition problem and the world of jobs does not make merely a few players of them alone. Jobs are there but the premium salary earning is not there to demand.
There is much of attrition in the Insurance and Bank segments for the MBA.. The job market reality is so different . The beneath says Retail will have shortage of talents. That is another contradiction when the departmental stores are closing down.
Please focus on small companies of excellence. Perform and grow with the organisation. . Innovation is lot more possible in small companies. Then later move to the big player who indeed would pay premium when they see your performance.
Lastly please note that we are facing downturn not recession. Please refer to the link herein.
<link outdated-removed> ( Search On Cite | Search On Google )
Here it is the sentiments which is playing a major reason in deferring the decisions..like a guy who wants to buy a bike/car is told his mother or wife to defer the same for next six months ..this has a ripple effect. Also , India is pretty well insulated from the Global crisis..the jobs affected are related to US IT projects.
Have our Banks crashed ?..is there liquidity crunch – only banks have become more cautious..
There are and would be jobs available but one has to be really competent to get the same and most companies are just being cautious including my organization as well..Just wait for the period of six months..ppl would get sensitized and comfortable with the economic scenario..things would limp back to normalcy. Don;t forget the fact that the public memory is short :-P
Like other crises in the past we have faced this would pass as well.
There is a dire need by the Govt to increase the public spending on the infrastructure which would have the multiplier effect to tide out the crisis.Please refer to the point made Nobel Prize winner...
http://economictimes.indiatimes.com/...ow/4043396.cms
Last week there was discussion on the reccession and one of the speakers drew allegory to the fact that recession is akin to being Optimist - if one sees the half filled glass as half empty and Pessimist - who sees it as a half empty.
He asked me what you see half Filled Glass - Optimist or Pessimist ?
I said " Sir.." Realist"
He said " Beg your Pardon !"
I : "Sir, i would add Scotch Whisky to the glass and gulp it down".:-P
This is what precisely is the way to deal with the current situation.
Cheers,
Rajat Joshi
2009 Will Be a Tough Year For First Time Job seekers
The India growth story has lost its sheen, thanks to the economic slowdown. This will clearly reflect on the job prospects of entry-level jobseekers this year. According to industry experts, the job market is not exactly happening in 2009. Job growth has slowed and many companies are optimizing their surplus staff and have frozen hiring. Campus recruitment is also down from the previous year. The big four tech giants, Infosys, Tata Consultancy Services, Wipro and Satyam are expected to hire less than last year. However, despite an overall drop in employment generation, there are sectors such as insurance, healthcare support, retail and education that will witness a shortage of available talent.
Source: 02-01-09Hindustan Times Business Compiled by www.naukri.com
IIT Placements Hit Hard By Recession
Students at the Indian Institutes of Technology (IITs) are bearing the brunt of the global economic downturn. At the IITs, this year, only 25 to 40 per cent of the M Tech students have been placed so far in contrast to last year when most IITs had achieved around 90 per cent placements by this time. At IIT Roorkee, TCS has hired only 13 students against 36 last year and Infosys Technologies only four against seven last year. Wipro Technologies has given the campus a miss this year. Similarly, IIT Guwahati has not heard from TCS and Wipro. The IITs are looking at extending the placement period.
Source: 31-12-08 news.in.msn. com Compiled by www.naukri.com
Hiring Outlook For 2009
Companies across sectors are planning to hire more than 2,50,000 new employees over the next few months. This includes more than one lakh full- time employees and about 1.5 lakh in part-time positions with insurance companies. While most of the hiring would take place in the financial services industry, the overall job market scenario is expected to recover in the second half of the year. Public sector banking giants like State Bank of India and Punjab National Bank as well as insurance firms such as Anil Ambani group's Reliance Life, SBI Life, Metlife, Max New York Life will hire big. Also, some BPOs and healthcare firms like ACS and Accentia are planning to hire thousands of people in the coming months. According to HR consultancy major Hewitt Associates, sectors like insurance, telecom, infrastructure and Special Economic Zones may hire people in 2009 but the hiring outlook would remain uncertain for sectors like real estate, textile and retail.
Source: 01-01-09 India News | Indian Business, Finance News | Sports: Cricket India | Bollywood, Tamil, Telugu Movies | Astrology, Indian Recipes Compiled by www.naukri.com
From India, Pune
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There is so much news about global meltdown and yet there are contradictory and inconsistent reporting by the media.
Read and ignore the news at the end of this note
My two cents thoughts is to ignore the fact that TCS and WIPRO had earlier opted out of IIT because of the attrition problem and the world of jobs does not make merely a few players of them alone. Jobs are there but the premium salary earning is not there to demand.
There is much of attrition in the Insurance and Bank segments for the MBA.. The job market reality is so different . The beneath says Retail will have shortage of talents. That is another contradiction when the departmental stores are closing down.
Please focus on small companies of excellence. Perform and grow with the organisation. . Innovation is lot more possible in small companies. Then later move to the big player who indeed would pay premium when they see your performance.
Lastly please note that we are facing downturn not recession. Please refer to the link herein.
<link outdated-removed> ( Search On Cite | Search On Google )
Here it is the sentiments which is playing a major reason in deferring the decisions..like a guy who wants to buy a bike/car is told his mother or wife to defer the same for next six months ..this has a ripple effect. Also , India is pretty well insulated from the Global crisis..the jobs affected are related to US IT projects.
Have our Banks crashed ?..is there liquidity crunch – only banks have become more cautious..
There are and would be jobs available but one has to be really competent to get the same and most companies are just being cautious including my organization as well..Just wait for the period of six months..ppl would get sensitized and comfortable with the economic scenario..things would limp back to normalcy. Don;t forget the fact that the public memory is short :-P
Like other crises in the past we have faced this would pass as well.
There is a dire need by the Govt to increase the public spending on the infrastructure which would have the multiplier effect to tide out the crisis.Please refer to the point made Nobel Prize winner...
http://economictimes.indiatimes.com/...ow/4043396.cms
Last week there was discussion on the reccession and one of the speakers drew allegory to the fact that recession is akin to being Optimist - if one sees the half filled glass as half empty and Pessimist - who sees it as a half empty.
He asked me what you see half Filled Glass - Optimist or Pessimist ?
I said " Sir.." Realist"
He said " Beg your Pardon !"
I : "Sir, i would add Scotch Whisky to the glass and gulp it down".:-P
This is what precisely is the way to deal with the current situation.
Cheers,
Rajat Joshi
2009 Will Be a Tough Year For First Time Job seekers
The India growth story has lost its sheen, thanks to the economic slowdown. This will clearly reflect on the job prospects of entry-level jobseekers this year. According to industry experts, the job market is not exactly happening in 2009. Job growth has slowed and many companies are optimizing their surplus staff and have frozen hiring. Campus recruitment is also down from the previous year. The big four tech giants, Infosys, Tata Consultancy Services, Wipro and Satyam are expected to hire less than last year. However, despite an overall drop in employment generation, there are sectors such as insurance, healthcare support, retail and education that will witness a shortage of available talent.
Source: 02-01-09Hindustan Times Business Compiled by www.naukri.com
IIT Placements Hit Hard By Recession
Students at the Indian Institutes of Technology (IITs) are bearing the brunt of the global economic downturn. At the IITs, this year, only 25 to 40 per cent of the M Tech students have been placed so far in contrast to last year when most IITs had achieved around 90 per cent placements by this time. At IIT Roorkee, TCS has hired only 13 students against 36 last year and Infosys Technologies only four against seven last year. Wipro Technologies has given the campus a miss this year. Similarly, IIT Guwahati has not heard from TCS and Wipro. The IITs are looking at extending the placement period.
Source: 31-12-08 news.in.msn. com Compiled by www.naukri.com
Hiring Outlook For 2009
Companies across sectors are planning to hire more than 2,50,000 new employees over the next few months. This includes more than one lakh full- time employees and about 1.5 lakh in part-time positions with insurance companies. While most of the hiring would take place in the financial services industry, the overall job market scenario is expected to recover in the second half of the year. Public sector banking giants like State Bank of India and Punjab National Bank as well as insurance firms such as Anil Ambani group's Reliance Life, SBI Life, Metlife, Max New York Life will hire big. Also, some BPOs and healthcare firms like ACS and Accentia are planning to hire thousands of people in the coming months. According to HR consultancy major Hewitt Associates, sectors like insurance, telecom, infrastructure and Special Economic Zones may hire people in 2009 but the hiring outlook would remain uncertain for sectors like real estate, textile and retail.
Source: 01-01-09 India News | Indian Business, Finance News | Sports: Cricket India | Bollywood, Tamil, Telugu Movies | Astrology, Indian Recipes Compiled by www.naukri.com
From India, Pune
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Hi,
I'm new to this forum. I work in Corporate HR in Kuwait. With regards to the discussion on Recession, there is not much effect in the Gulf except Dubai, where the real estate industry is hit badly and construction projects are left pending halfway. Hiring here is also frozen as of now.
What about the HR professionals who return to India after some time? Will they face difficulties in getting a job back in HR?
Regards,
HR Professional
From Kuwait, Kuwait
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I'm new to this forum. I work in Corporate HR in Kuwait. With regards to the discussion on Recession, there is not much effect in the Gulf except Dubai, where the real estate industry is hit badly and construction projects are left pending halfway. Hiring here is also frozen as of now.
What about the HR professionals who return to India after some time? Will they face difficulties in getting a job back in HR?
Regards,
HR Professional
From Kuwait, Kuwait
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Hi Mr. Joshi, I need your guidance on how to go about setting up HR processes in the Company i work for in Kuwait. Regards Xavier
From Kuwait, Kuwait
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From Kuwait, Kuwait
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Hi,
I am pursuing my MBA and currently in the 4th semester. I am concerned about how the ongoing recession might impact job opportunities for freshers. I have attended nearly 5 interviews but have not been successful in securing a placement. What advice would you offer to all the freshers, especially those looking for opportunities in the HR department?
Regards,
Rima :-)
From India, Mumbai
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I am pursuing my MBA and currently in the 4th semester. I am concerned about how the ongoing recession might impact job opportunities for freshers. I have attended nearly 5 interviews but have not been successful in securing a placement. What advice would you offer to all the freshers, especially those looking for opportunities in the HR department?
Regards,
Rima :-)
From India, Mumbai
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Dear Joshiji,
India is not insulated because in the last five years, India has generated employment in the IT, Infrastructure, Real Estate, Finance, and Service sectors. The Manufacturing and Old Economy sectors have had minimal impact because they have hardly managed a sustainable growth rate, which did not generate significant employment. Instead, they were affected by the rising cost of labor due to a shortage of skills and high-paying jobs in the Infrastructure, Real Estate, IT, Finance, and Service industries over the last five years. Furthermore, the Finance, IT, and Infrastructure sectors have attracted the best talent in the market at the best market price.
Now, the same price appears to be five times higher than its real market worth because these positions did not generate revenue as much as they were priced for.
The economy is shrinking, money is becoming more costly, and currency circulation in the market has also shrunk. Obviously, in times like these, no one can see the glass as half full and dare to drink Scotch Whisky because times have changed.
Today, the Indian economy is not only facing inflation but also deflation, meaning overpriced materials and commodities will find it difficult to trade at the current market price until the market corrects to the real value and worth. For example, three years ago, a flat costing 5 lakhs in B-grade cities was charged 35 lakhs during the boom time. Until this comes down to a reasonable price tag, for example, with inflation rates and factors like money appreciation, the 35 lakhs flat will be reestablished to today's 6 to 7 lakhs for the same flat. This is what is expected to happen.
Similarly, with job prices, jobs that were sold at 50,000 to 100,000 INR will be priced at 20,000 to 25,000 because only those jobs can generate revenue to that extent to justify their market price.
Captain
From Saudi Arabia, Riyadh
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India is not insulated because in the last five years, India has generated employment in the IT, Infrastructure, Real Estate, Finance, and Service sectors. The Manufacturing and Old Economy sectors have had minimal impact because they have hardly managed a sustainable growth rate, which did not generate significant employment. Instead, they were affected by the rising cost of labor due to a shortage of skills and high-paying jobs in the Infrastructure, Real Estate, IT, Finance, and Service industries over the last five years. Furthermore, the Finance, IT, and Infrastructure sectors have attracted the best talent in the market at the best market price.
Now, the same price appears to be five times higher than its real market worth because these positions did not generate revenue as much as they were priced for.
The economy is shrinking, money is becoming more costly, and currency circulation in the market has also shrunk. Obviously, in times like these, no one can see the glass as half full and dare to drink Scotch Whisky because times have changed.
Today, the Indian economy is not only facing inflation but also deflation, meaning overpriced materials and commodities will find it difficult to trade at the current market price until the market corrects to the real value and worth. For example, three years ago, a flat costing 5 lakhs in B-grade cities was charged 35 lakhs during the boom time. Until this comes down to a reasonable price tag, for example, with inflation rates and factors like money appreciation, the 35 lakhs flat will be reestablished to today's 6 to 7 lakhs for the same flat. This is what is expected to happen.
Similarly, with job prices, jobs that were sold at 50,000 to 100,000 INR will be priced at 20,000 to 25,000 because only those jobs can generate revenue to that extent to justify their market price.
Captain
From Saudi Arabia, Riyadh
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I have to answer the questions below briefly, so please help me write perfect answers:
1) As the whole world is going through a recession and many companies are letting go of their employees, how will you justify and make your key position productive and organized in the company?
2) What are your thoughts on the work from home culture as many companies are suggesting this arrangement for their employees worldwide?
Regards,
Jiten
From India, Delhi
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1) As the whole world is going through a recession and many companies are letting go of their employees, how will you justify and make your key position productive and organized in the company?
2) What are your thoughts on the work from home culture as many companies are suggesting this arrangement for their employees worldwide?
Regards,
Jiten
From India, Delhi
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IMPACT OF RETRENCHMENT ON RECESSION.ppt
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