Was there really a recession? Were you able to see it? Did you experience it?
I still remember a post that I had written about an year back on the job change confusion. The US economy was hit by one of the worst recessions and the Indian economy felt the ripples. Almost all the industries felt it and took some very harsh decisions including laying off a lot of employees and putting a freeze on hiring. There were not too many organizations that were interested in appraising salaries or, paying bonuses even. They wanted to remain conservative in spending and hence decided against doing any of these.
The Million Dollar Question
But the million dollar question was – Was it actually due to the ailing economy or, was it a deliberate attempt on the part of the organizations to save on the funds disguising recession?
Whatever the situation was, there was no or, very less job options available in the market and there was all-round firing happening. So the advice from any job counselor would be to stick to your current job and not look for a change.
For those of you who opted to stay with your current employer, even though pay-hikes were negligible, there is good news finally. The economy is opening up and organizations have started hiring.
The Situation Now!
The recession is finally over. Almost all economies have started recovering, including the US economy. Organizations that were in a strict cost-efficiency mode have finally decided to shed their inhibitions and re-open. Although the fact remains that recession is over and the economies are opening up, the recovery is yet not complete.
An ambiguous explanation to the entire situation. Right?
I would not want to question your thoughts because it is true. The explanation is indeed ambiguous. As a matter of fact, nobody can say it with conviction that the recession is finally over. Just as it went into a spiraling downward movement about an year back taking everybody by surprise, it could come up or, even go further down.
If that be the case how will you take a call, right now. What should be your plan of action?
The Plan of Action
Don’t take any hasty decision. Take a planned and calculated course of action. It is true that organizations like Infosys, TCS etc. have announced their ambitious hiring plans. Other organizations like American Express and Barclays are also hiring. So there is no doubt that there are a lot of opportunities. But it is advisable that your choose your career options very carefully.
If you think that your current organization is not doing too well or, that your appraisal is not satisfactory, you should look for a change. If you current status is not too good, then you can pick the next best opportunity that is coming your way. But if your current organization is stable and your role is kind of satisfying, then you should wait for a comparatively better opportunity. Till then you should stick to your current role and stay tight.
Economic situations like the one that is prevailing calls for a well-thought about career move. The volatility in the economy still remains. Think and decide.