Saturday, August 13, 2011

Another recession: Should you worry?

People have been saying all across that in the outsourcing world, when US sneezes, India catches a fever. It is surprising to see that in spite of partial dependency on the US companies, the markets in India are still so sceptical about the impact of the debt crisis in US now. Rest assured, it’s going to strike against a stiff barrier before entering India. Despite so many outsourcing firms blooming large and sprouting out due to the global needs, it is not only US that the world depends on.

True that some effect of the turmoil would be felt in every part of the world because after so much globalization a part of every economy at present in the world depends on one or the other economy of a different country partially. So it is not surprising that a mild upheaval in one economy is going to cast a similar positive or negative affect in the economies in other parts of the world. It is high time that we tend to minimize our dependency on the US as we are ourselves moving towards a self-sustaining economy. True that outsourcing will continue to function the way it is now, but that should not be such a body whose heart lies in the US. Major organizations have already realized this back in 2008 and henceforth moved across to Europe and South America and lot of other countries where they previously did not exist.

Should the working professionals worry?

If you are working in a outsourcing company where your client is based in US or UK, there might be a cause of worry if your organization is small. If it’s a middle level organization you are working for, you can relax a bit. And if your organization is amongst the top in the country or world, you can have a beer. But, having said all this, it would be unfair not to say that your package would remain unaffected. Because organizations have their profitability in their mind. So hikes and perks might dry down.

Should the 2011 batch worry?

In case your college is not amongst the top few colleges or a decent graded college in your state, there are few things ought to look at:
   1. Try to figure out the position of your institution from some reliable ranking lists available in the internet. If your’s is among the top few in the state, be it private or government, you can consider it a green signal from this front.
Weightage: Medium
   2. Take a close look at the recent quarterly performance of the organization you have been waiting to join. If the organization posted an outstanding performance last quarter, then you can have a sight of relief.
Weightage: High
   3. Notice the impact of the current market crisis. If the present crisis continues to prevail for sometime more, and it spreads slowly across nations, then the situation can get a bit uncertain. But it is fine if the economies strengthens after sometime.
Weightage: Very High

Should the 2012 batch worry?

There is no need to press the panic button right now. But there is a need to press the ‘Wake Up’ button though. You will need to brush up your past semester skills. You will need to stay more alert than before when you are taking any career decisions and at the same time keeping a close watch on the market. In case, you are not comfortable in understanding the market, keep in touch here.

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