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Managing the Psychological effects of Recession
Posted by Faisal Naik | Posted in Careers, HR, Management | Posted on 01-03-2009
I wonder how the subject would be treated by professionals coming to Zumbeel considering the current market situation. Whether its telecom or otherwise, nearly all the industries linked to global markets have been affected by the recent financial crunch.
Yes we have heard news and rumors at the same time, of professionals loosing their livelihood. But one way or another we as individuals do give a thought to it maybe a couple of times these days.
“What will happen in the next couple of months?”
“Will my organization consider me valuable enough to retain my services?”
“What options do I have in case my organization thinks otherwise?”
I believe at this point in time, the best way is to discuss out the situation with your line managers. Senior leaders or people from management can should explain the situation in clear simple words in town-hall meetings or other informal arrangements.
This will atleast give the best possible picture to everyone concerned and let them decide on their own the best way forward.
Faisal Naik has been associated with IT & Telecom industry since 1999. With a Masters degree (MS) in Computer Science, and in Business Administration from SZABIST Karachi, he has had the privilege to work for data network operators, financial institution and telecom companies.
In these situations, maintain your performance log which states what targets and goals you have achieved in your tenure. When there is an slowdown and the company has to cut the headcount, there is a last meeting called ‘Steel cage death match’ in which the company gives you tons of reasons as to fire you. The winners stay and the losers leave.
‘Steel cage death match’ is usually also known as the performance review meeting
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