The economic recession is also an opportunity for career advancement

             The economies of the world are reeling under the effects of a full fledged recession. The industry is waking up to a harsh reality. And when the corporate structure feels shaky, the brunt of strain is felt at the very base of the arrangement, at the individual level. Inadequate monetary compensations are only a part of a larger picture. The impact of the current market situation on the individual’s emotional physiology has been as extensive as it has been understated.

One side of the story is that the economic fall-off has resulted in lower business for industry, which in turn translates to lesser work and immediate opportunities for the employees. Managers are unable to direct or motivate them to perform at work, simply because there is no work! This breeds a feeling of frustration and the employees feel trapped in doldrums.

When an employee is forced to hang on to the job out of some difficulty, he or she starts to hate the job. Consequently he or she starts hating himself or herself for going through the grind unwillingly.

Another side is the carrot-stick method that many organizations employ as stop-gap arrangement to “weed out non-performers”; where the “incentive” for high performance is job security! This in fact kills enthusiasm of employees. All these factors cause them to lose drive. This employee dissatisfaction and apathy decreases productivity and, on a macro-scale, completes the vicious circle of the recession.

But there are two sides to every coin. This recession will force individuals to face up to difficult questions and induce them to answer. Self-motivated employees who still enjoy the work in their domains will know that they belong there. They would have found their best-fit fields. It will also help organizations identify their aptitude and develop their abilities. Such individuals will be prized and when the economy starts to turn up, their value and career advancement opportunities will increase many fold. Others who are unable to muster up the same enthusiasm will know that their calling lies elsewhere. This will, in a sense, be an on-the-job career counseling.

Individuals who quit their jobs either through choice or compulsion will also be poised on an exciting threshold. One option would always be pursuing higher education. The training will improve the individual’s skills and marketability. A two or three year course will also ensure better positioning of the individual in the job market, at an opportune time, even as the industry emerges out of this economic gloom. Alternately, the individuals may go in for a complete change of career path by opting to study for an altogether different vocation.

Another option would be to learn new marketable skills or enroll for short-term courses. One may as well indulge in artistic leanings. The story of Steve Jobs and his calligraphy lessons in college are legendary and it might well be worth taking the dip. In an age where a Jack-of-all-trades is as valued as, if not more than, a Master, it pays to have many and varied cards up ones sleeves.

Many people are now opting to take private tuitions or even going back to college, as lecturers. This not only takes one back to the basics and in touch with theory, but also enhances one’s confidence.

Finally there are always those who embark on entrepreneurial journeys. When organizations are looking to cut costs, they are exploring alternatives outside of established but costly vendors for many services. A low-cost provider with acceptable quality of delivery is a very enticing option for them. Extreme market conditions not only open up new avenues to provide service, they also create conditions to find and establish niche markets. Even as the heavy oak struggles to brave the storm, the versatile grass will find room to flourish.
  We have certainly hit rough weather. But as the saying goes, ‘when the going gets tough, the tough get going’. These are testing times but the thing about being in an abyss is that there’s only one way to go- up!