Have you been fired by your employer and are finding it difficult to get another job? How should you cope with a sudden job loss?
Which sectors are laying off employees and which sectors are still hiring in this downturn?
To answer these and various other job loss-related queries, Amit Bansal, an employability and skill enhancement initiative expert hosted a chat with GA readers on February 25.
For those of you who missed it, here's the unedited transcript:
niranjan asked, what will be the future of contractual job under govt organisation?
Amit Bansal answers, at 2009-02-25 15:50:42There is a growing trend of contractual jobs for government department. Let us first understand why govt contracts people- there are 2 reasons for that: 1. At times when there is a freeze on fresh hiring on govt rolls (say because of election dates getting announced, or a sudden need for people for which sanctions will take lot of time), govt deptts start hiring people on a contract basis. In lot of cases, such people continue to work under contract basis. Needless to say, some get regularized and some get dropped as well. These jobs are not as secure as the traditional govt jobs 2. Sometimes there is a sudden requirement for more people on a project basis. These jobs are there only for the duration of the project and may not exist once the project is over. In future, we will see more of contract jobs with govt. They may not be as secure as traditional govt jobs, but they are a good ground to build your work experience.
Vicky asked, In these days is it good to make a move with good brand name though the hike is not good.
Amit Bansal answers, I am not sure if the decision to make a move to a good brand organization has much to do with recessionary times. For making a career move, you should consider the following: - quality of work or your job role - how this move to the new organization reflet on your overall professional development - is this move in line with your career anchors and goals (stability/power/money/challenge etc)
nitesh asked, is there any way to get a new job
Amit Bansal answers, If you are a fresher: - you need to build your profile for an entry-level role. ask yourself, can a company hire me and directly put me on to the client side if you are a experienced professional: - it is best to build on your strengths - however, if you are actively looking out, there are opportunities - you need to network to find more opportunities. Make sure enough people KNOW YOU and your skill sets. The best way to find a job is through personal connections first degree and second degree. Get active on networks like linkedin and connect to your old college mates, old colleagues, customer relations. Socialize, volunteer, attend events. Get involved with the growing number of job clubs and support groups online as well as offline. Exchange information on job leads and contacts. Circulate yourself as a job prospect and see how you can help others.
SWETA asked, I work in a stock broking firm. Should I continue with the firm seeing the bad condition of the financial markets or shuld I change and move to some manufacturing industry.
Amit Bansal answers, Stock brocking firms are under some distress but that does not mean that this sector will not bounce back.. it depends on your personal aspirations and your skill set for the fin markets. if you think that there is a substantial investment from your end in the career in broking, i will advise you to continue.
amitrai asked, can i go for a job change at this moment???
Amit Bansal answers, personal choice. there is always demand for good professional across companies. even in these times, companies are hiring junior and middle mgmt profiles. however, if you are a little more security seeking profile, in these times it is better to stick to your existing employer.
prasanth asked, sir, is it advisable to go for job search in us..?
Amit Bansal answers, if the question is to go to the US and then search for a job, i will advise against it. however, if u r going for higher studies and then want to find a job there, you should explore that. the only factor that you should keep in mind is the reputation of the program and the univ for which you are enroling.
tt asked, Hi Can you tell in this recession period which job area which is secured?
Amit Bansal answers, no job area is secure!! however, good professionals are always secure. make sure that you invest in your skill upgradation (understand your competence profile and fill-in the gaps). For those in non-managerial roles, these competencies include: - Communication skills - Leadership experience - Problem solving and Decision Making skills - Functional expertise- Broader and Larger Perspective - Operational impact For those in managerial roles, the focus should be on: - Profit Generation - Strategy & Execution - Leading People - Business Development Also, understand the larger interests of the organization and start exploring areas in the organization where you can make contributions (beyond your designated role).
Nathan asked, Are there any forecasts says how long this situation (economic melt-down) going to be? Can we expect the situation will recover in another couple of quarters?
Amit Bansal answers, Let me wear my forecasting cap :-) Most of the world expects the downturn to stabilize by the end of this year - that means that possibly we will stop getting more bad news. however, for the good old days to come back (sensex at 21000) it may take us half a decade!
Ranjan asked, My areas is Business Development and I am searching for a job but I am notable to grt it? Can you help me?
Amit Bansal answers, ranjan, you need to get more connected, more networked. in these times, if an organization needs one person, it is a good biz dev guy- someone who can get them more business. so either you are not connecting to enough people and u r not aware of job opportunities in the market, or u r not projecting ur strenghts properly.A first step toward finding your next job is to reflect on and articulate what you already have accomplished. Get ready for job hunting by creating an "elevator speech," a brief pitch that you could make for yourself if you happen to get on an elevator with a potential employer. You have to sell yourself as a job prospect before the doors open.
swapnil asked, sir,i m doing mca,pls give me some tips abt wht to do next to get a well job.Thanks
Amit Bansal answers, Swapnil, the opportunities are much fewer in the market. So u need to make sure that whichever opp comes, u crack it. develop urself well on the following: - problem solving - communication (basics) - profile urself for an entry level role u can visit purpleleap site and get more ideas on the areas of development.. one thing is for sure- u need to invest in urself
Saif asked, Iam working for IT consulting firm from past 4 yrs.What is future of IT Recruitment in coming years? Kindly suggest some inputs to secure job in this recission period.
Amit Bansal answers, there are business cycles and right now we are at the bottom of one such curve. the demand for IT will bounce back and india will be the first one to encash the same
praveen asked, Hi, Is this right time to leave current job and to go and search for jobs in UK.
Amit Bansal answers, there is likely to be greater stability in india as compared to western world. india is still growing at over 5%
Sneha asked, Do you think the recessionary time is a good time to go for further studies?
Amit Bansal answers, these times are best to upgrade ur skills. couple of things u shud keep in mind: - do not take a program just becoz it is offering a degree. gone r the days when a degree will get u a job - make sure that u understand the return on investment- how much u spend on the program and how much will u get in what timeframe
dinesh asked, hi i am a fresher engineer.will pass out in jun 2009.wat is the best thing to do at this point of time sir.study or job?? r der any jobs in the IT sector in india?
Amit Bansal answers, dinesh, there are jobs in the IT sector. you may be surprised but companies are still hiring.. - u need to reset ur expectations on the entry level salaries (prepared to work for 10k) - u need to invest in ur skill upgradation (cos r looking for guys who can be put to job right away) u can visit purpleleap site for more ideas on skill upgradation
User asked, What's the future of Indian IT industry? in view of current job scenario...
Amit Bansal answers, the good time when students having an engg degree will get a job, are gone! there are still jobs in the market however cos are far more selective now. Chances are lower in number, but you need to convert - what have people put in their own CV - what are your strengths and pitching your strengths - researching the company before the interview - why are you the best candidate Critical skill areas - problem solving - knowing yourself and drive to succeed - communication
satish asked, Hi Amit, I am a fresher and currently doing final year CS&E engineering. as u know there is very less chance of getting chance. Can u elaborate on Frenchise jobs, freelancing software jobs and sugest some good links
Amit Bansal answers, Satish, am not sure about ur area of competence so will not be able to suggest the links..
however, i will suggest that u actively seek out for jobs that are technical in nature but may not be paying too well.. in these times it is far more important to get started in the technical field than look at salary
tt asked, what do you think of export house who are doing business with US market? What is their future?
Amit Bansal answers, if the export house has good margins and is competitive globally, there is no issue. however, there are lot of houses that were making money coz of just simple arbitrage may face tough times
hrguyofsoftwareco asked, suggest some employee retention tips for smaller cos.
Amit Bansal answers, i dont think retention should be an issue in these times :-)
rohit1285 asked, Good evening sir I have 1.5 years of experience working in Software company what would be the good time for getting a better salary hike and change of job
Amit Bansal answers, Rohit, dont think of salary hikes at such early stage. i know that u r used to hearing 30-50% hikes but in these times such hikes r not the norm. u shud work on establishing urself as a seasoned professional in these times
hasan asked, sir, if I want to get into personality development training whom should I approach to get started?
Amit Bansal answers, there are lot of cos into personality dev programs. purpleleap also runs such programs.
ramkip asked, Do you think doing MBA through executive program will help to buy time? I am with more than 15 years in to IT industry
Amit Bansal answers, the decision to do an exec MBA shud not be driven by the motivation to buy more time! do u think u will like to do an mba or not?
Thanki asked, Amitji..I read your answer..by networking..Iam doing that also..so le'mme use that here too.. Iam tryin for a new exposure..with my 3.6 yrs of exp in my ui/web design job. Iam a creative UI Web Designer + Content Writer. Here is my portfolio : www.designversatile.com My article portfolio : http://webberthanki.blogspot.com
Amit Bansal answers, :-) i like ur initiative. pls send me an invite at linkedin
Akhil asked, Hi Im Akhil had done my MBA in marketing now im trying for jobs but im not getting wat may be the problem my education or my bad luck?
Amit Bansal answers, to start with, stop cursing ur luck! there r positions in the market for S&M professionals - even at entry level.. i will suggest that u get started with a job in insurance/fin sector - even thou the salary may not be that great to start with.. at this time, u need to make sure that u get started with a career and build ur competence..
Shekhar asked, What are the chances of Pharma sectors being adversely afected by the ongoing recession?
Amit Bansal answers, pharma in india is likely to be least affected by recession..
Nathan asked, Employers generally under-estimates laid off candidates even though they have good competency. What should be their focus area's to sell their talents?
Amit Bansal answers, r u confident that u r more competent than the others. A first step toward finding your next job is to reflect on and articulate what you already have accomplished. Get ready for job hunting by creating an "elevator speech," a brief pitch that you could make for yourself if you happen to get on an elevator with a potential employer. You have to sell yourself as a job prospect before the doors open.
Shravan asked, Hi as per your view in IT areas like Java, .net, Oracle, SAp etc.. which is the least hit by this recession
Amit Bansal answers, if u r looking for an area to develop ur skills, i will recommend to go for java or .net.
mt asked, in which areas you see job opportunities and which are worst hit?
Amit Bansal answers, the areas that will generate most jobs are the core sectors
swetha asked, hi, is your company only to guide college students?
Amit Bansal answers, we work with fresh graduates and make them ready for workplace across industries.
aman asked, what about power sector ????testing field???
Amit Bansal answers, Power sector will witness growth in the next couple of years
mt asked, in which areas you see job opportunities and which are worst hit?
Amit Bansal answers, The level of job opportunities will not be the same as it was in 2007/2008. However, lot of sectors will be recruiting more people (including IT sector!). core engineering sectors will witness opportunities for engg students and may turn out to be the largest recruiter for engineers. there will be career opportunities in some lesser paying sectors like textile as well. the main mindset shift that students need to make is- gone are the days of fancy salaries! be ready to take up jobs that offer reasonable compensation and be ready to work hard to build ur skills.
Amit Bansal says, It was nice interacting with all of you. Thanks for your active participation which made the session very engaging.
Amit is the founder and CEO of PurpleLeap (www.purpleleap.com), an employability and skill enhancement initiative of Educomp Solutions Pvt Ltd.
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