The recession is beginning to hit home. Yesterday a cousin sister of mine got laid off. It was a devastating blow for this mother of teenage children. There was no warning and as per the terms of her contract she got her one months notice pay and they even allowed her to take leave for the notice period. Her Christmas was totally ruined. Luckily her husband still retains his job for now.
After the initial shock, the intrepid lady took a cool look at her situation and logged onto a popular job portal. She found several jobs. Though they did not pay the type of salary she was drawing, they were better then nothing. By evening she had an interview call and she is more than sure of taking the job though it pays her 45 % less.
There is a another scenario to this situation. My uncle a Small and Medium Scale (SME) businessman has been struggling to get good people for jobs for a long time now. The buoyant market made it impossible to take on even B grade b-schoolers. He just could not afford the type of salary they wanted or were being offered by big business houses. Today he is a happy man. He has not one but three MBA’s working for him at a salary he can afford to pay them. The MBA’s on the other hand are pragmatic and content with the 50% reduction in their salaries at the new job. They were similarly laid off, but seem strangely happy with their current situation.
The two examples taught me a valuable thing. That all is not lost. There are jobs out there though they may not pay very well. And people, who have lost jobs, should not despair but ride the gloom out with whatever is on offer. Depressions come and go and when the market is buoyant again, things will look up. We Indians are long used to frugality and depression should not be a scary word for us. Jobs are not disappearing. They are out there. Though they may be a lot less attractive pay-wise. But the economic boom has ensured that even at a lower price, jobs at still available for the taking! So take heart folks. All is not lost...yet! :)
Wishing you all a very Merry Christmas and a Prosperous New Year!
I am off for the hols :)