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Monday, February 23, 2009

HOW TO STOP FRUSTRATION OF JOB LOOSERS

Everyday we are receiving bad news on increased unemployment in our country. The official version is that India is not passing through deep recession. Yet during last six months educated job loss was reported to be five lakhs. No new employment has been created in last six months too in most large private sector enterprises. This is absolutely very scary situation. Many fresh graduates who had campus interview in 2007 have not yet been absorbed. They are perhaps going to be called to join in now. The boys who were interviewed in July 2008 still don’t know when they would be given the posting. The student of 2009 batch are feeling frustrated completely. What would be their fate?

The uncertain future awaits fresh graduates in IT, sectors mainly. The automobile sector has also stopped taking fresh graduates. The Steel industry, The cement sector have not also recruited any more. I checked up with a HR executive of Microsoft, based in Bangalore, whether they have been taking person in SAP segments. (Generally SAP segments are still vibrant world over). He replied to me that there is a frieze on most new appointments. Under such circumstances who can empower the young job seekers?

The frustration of Job seekers have gone so high that some of the boys have raised their voice in protest against recruitment of cricketers by industrialists and by film stars turned businessmen with very high salary involving foreign exchanges. In Japan, young job seekers are organizing protest rally by throwing fist in open air against vulgar display of over spending by businessmen and by celebrities. These are of course sign of frustration. The time has come for society to note these signals before it is too late. The question before us is how to stop frustrations of young job seekers?

Some of our friends discussed the matter and evolved a consensus that may be worth mentioning. I did receive a suggestion from a friend of mine. It is a fantastic suggestion. All the companies who had taken campus recruitment program and had already issued appointment letters should sponsor the candidates to a post graduate course as they have not been able to provide them the jobs so far.. The companies can negotiate with a few technological universities in each region to impart one year's technological and business oriented course and train those appointees. This could be equivalent to one years post graduate course in line with the Sloan school of Management's model.

The course content can be similar to the MIT's program and can be called Master of Techno-management. This could be achieved through payments of half the salary which the corporate promised to students in campus interview. This program would save the money for the company, but prepare the appointees to accept greater social challenge in future. The boys would have fulfillment of acquiring knowledge instead of frustration and of course a degree, at somebody else expenses.

Some of the Indian employers have developed maturity in handling potentially-messy situations in a country where layoffs are still frowned upon. They were making sure the retrenchment process can be as painless as possible. The idea is to hand-hold these employees while helping them to get jobs, so that they can walk out of the door with their head still held high.
Software giant Cisco was the first to show the way in 2001, after the tech bubble burst. The company allowed employees to take sabbaticals while they were paid one-third their salary. During that time, they received employee benefits, and access to training and continuing education. If jobs opened up, these employees enjoyed preference. Thus Cisco saved money, talent and - more importantly - its reputation as an employer of choice. So, Cisco is now world’s most preferred company to work with.
Our society has also a role to play. During the time of such economic depression rich people needs to stop showing off high spending, throwing lavish parties and vulgar display of wealth. The Government needs to take up construction projects, Road buildings and sponsor specialized training courses for a year in local MBA institutes for qualified personal that got job but could not join. It would be small money compared to reputation they might earn by sponsoring educated unemployment.
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1 comment:

anakshi said...

Sir,I went through your article ''How to stop frustration of job looser''.Your suggestions are really unique and valid.I appreciate your concern for the existing situations. We really need such kind of constructive ideas to fight with the situation.