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When we start working we are fearless, ready to
take up any job which can fulfil our requirement of earning. Here
the only challenge is to get a job and start earning for self and
When we start working we are fearless, ready to take up any job which can fulfil our requirement of earning. Here the only challenge is to get a job and start earning for self and dependents. Marriage for a girl and a salaried job for boy are still the definition of settling in life for most of the Indian families.After working for ten to fifteen years the biggest fear which stands in our mind is JOB LOSS. Job cuts do not happen in early age when you are in your 20s. Because you are young, you can travel, work hard, you have no family and you can spend more time in office, you are the frontline force of the company and contribute to the revenue directly etc... This juncture you are never a burden to any organization unless you are extremely unproductive or facing any integrity issues.
Then when exactly is the threat of losing job?
The highest quantum is for those in 35 plus age group & particularly to those who are successful, taken some promotions & have moved vertically up.
Why this group is a target?
1. This is the time when your salary has reached in a millions per annum at least, you mean a huge cost in books of cost accounting and you are no more contributing to productivity directly because you are leading a team driving organisational goal. How does the organisation see you now? If they take you out of the company also there is no loss because people under you will work any which ways as they are. To drive some hard working people who were once groomed by you, do not need your leadership anymore to continue what they are accomplishing.
2. All organisations keep altering their staffing structures & change as per market trends to keep themselves financially & business wise healthy.
3. There could have been a change in top management, the new management who are on board have to improve the book value & cant really say the company is doing well & we should not undergo any change. They certainly cannot utter these sentences. They have to always find out reasons for non performance or better performance. The past management may have wrong people & doing all wrong things. And instant sign of their presence cannot be shown by increasing sales or profits. Bringing down employees, salaries and rents is easy mechanism to decrease expenses & increase profit; hence the book value of the company goes up in duration of months.
Thoroughly there is no mistake of the employee here. Its all to do with consequences which are not in his control. But the ultimate sufferer is the individual who has lost the job & on the flip side what happens is He is mid of his age where the commitments towards life are high, you may have 1 or 2 children whose education is just begun or half way, You have just got an address of you at dream home which you always wanted & this comes with huge EMI which you pay through your nose, you are experienced now & better than others, a subject expert, specialist & expensive resource to any organisation. The factor of Specialisation & expertise which you had as boon, which made you an edge ahead of other has become a curse. The moment you are an expert of a subject or industry, you can be hired only by those companies who are in need of you. Hence your saleability becomes slimmer.
How do you tackle this situation now?
Ans: fundamental thing which one has to believe is what goes up will always come down. One day you may be performer, other day you may not be. This is law of happiness which comes & goes on his fancies. The job or profession which you are always proud of could one day not be there and go away from you early than you probably predicted. Once you are mentally prepared for the worst time of your professional journey, alongside prepare for a practical plan to sustain your personal lifestyle which you & your family are having. Following could be some of the plans one should have.
1.Have adequate amount of saving. When should one start this is as soon as you start earning. As you do not give-up on earning, you should not discontinue saving also. Both saving early & saving more do not cause indigestion. We have seen many celebrities who die poor. What went wrong with them; they were successful, rich & brilliant in their area of profession. Please note earning money & making money grow are two different things. Not necessarily you master both.
2.Dont spend on stuff which you cannot afford without loans (expect appreciating assets) acquiring lifestyle too early under peer pressure & to show off your success. Example buying a new car at early age, wearing designer & expensive outfits which are bought through credit cards. Financial strength, money & wealth do not look good on roads, out fits & in events. They are good and safe in bank accounts, financial instruments & properties.
3.The last link is having parallel income. No company will allow you as per the law of the country to take up dual employment. At the same time an individual is permitted to do part time job/business/partnership/share holding which may not be in correlation to his existing job. No matter how small the income is, this can give you confidence of ton salaries during the period of crises. And you would already have a tested and trusted parallel job which you can focus on in times of haziness.