Do not quit your job, now….!
It is always tempting to quit your job and try for a new one, right? Wrong. WRONG. Capitals, block letters, dark, Italics.
It is dull and boring to hold on to your current job, boss, field, colleagues…..so you want to quit. Well, that is the easy part. What happens once you quit? Find another job? similar boss, similar colleagues, a different location…but it could be worse, then what?
Forget that scenario. Much worse could happen. What if you cannot get a new job? what happens if you get a job in a company or industry that YOU hate MORE than your existing job? Like one girl who left a life insurance company (sales pressure) to join a bank? Since it was the bank from the same group, she had to still sell life insurance, and sell very aggressively. She then switched banks – being young helped. This is NOT a choice for a 40 year old.
Let me tell you what I have seen, observed, heard,….
1. It is still a buyer’s market: If I have employed carpenters and suddenly I need plumbers, I have to sack the carpenters! Once upon a time I thought I should teach the carpenters how to plumb. Today I have no time, so I WILL sack, and you will be unemployed. Simple.
2. It is still a buyer’s market: The whole world is willing to supply people to me in INDIA. There are no jobs being created worldwide, so Walmart Malaysia, UK, US – all the staff is available is available for hire. Go to Reliance Retail office and see for yourself.
3. It is still a buyer’s market: Fresh graduates and post graduates – Engineers, MBAs, etc. will SOON BE WILLING to work for free – it is frustrating to sit at home feeling guilty and having nothing to do! This will keep pressure on salaries to be DOWN not up…
4. Fresh graduates are under tremendous pressure to perform: no comments you understand this, right?
5. I hate this job: Especially if it is your first job you think the world outside is awesome, but this job is terrible….Don’t say this. Remember you said this in 2009 also? History, sadly, repeats itself.
6. Last hired, First Fired: Companies will make some attempt to keep the older guys – people who have spent longer time in the company – this may not be sensible, but it is a fact of life. Take it or leave it.
7. Work pressure is same everywhere. One kid who left a high pressure sales job to join a PSU bank regularly spends 11 hours in the branch, listening to abuses about the inefficiency of the Psu bank. Wince. It hurts, but she has no choice.
there would be many more…but suffice this for now….
Krishna
Subra Sir, But wouldn’t staying in same place for long slow down growth? Isn’t switching jobs for higher salary, a need and a reality today?
PR
Referring to point no. 6…in some companies (or even in some industries) exactly reverse holds true.
First hired, First fired….because older employees are costlier than newer. Also, inefficient sometimes (or let’s say, they know the tricks of the trade) thus companies feel comfortable in replacing older ones. Harsh but TRUE.
subra
PR,
what is harsh? if u are in the capitalist world, learn to live by the rules.If you are not adding value in the value chain, nobody will pay you. As simple as that.
PR
PV Sir, harsh is the deliberate attempt to fire the one who takes home the highest pay regardless of the performance. There are real instances to support this.
The great capitalistic world has stopped differentiating between performers and non-performers. Rules are conveniently tweaked.
Thus, harsh!
subra
look it is a free market. If you think you can earn Rs. 20L on your own but are stuck in a Rs. 8L job, change your job or even better start your own business.
If you think u can earn Rs. 20L and you are stuck in a 8L job, it means you are earning Rs. 20L and paying Rs. 12 Lakhs as a ‘risk ‘premium’for giving you a job 🙂
Rajesh sigh
great article,Time is tough,and only tough will get going.change your attitude as time is changing
ElecV
PR, FIFO method works during recessions/downturns, when a company seeks to cut costs anyhow, including inefficiencies.
During the growth stage of a company, they don’t mind keeping the high-salaried if their usefulness is still there.
Rajeev
Subra,
Hiring and retaining good employees is an equally tough job. I had a spate of resignations this week.
I am in midst of visiting colleges to hire smart young graduates right now. It really pains to see so many bright students who will compete for the few jobs that hit campuses. Who makes us select some and reject others? But then after one year or at the most two, many of these will either leave for MS or MBA.
I for one feel that job hopping has become a very attractive game. People change jobs every two years or so. Their salary goes up very fast but competence does not increase. After some such jumps, they find themselves in hostile atmosphere. Their colleagues do not support them as the jumpers are better paid than the non jumpers and they can not do the job expected of them. I see so many such CV’s for any job posting we give.
Regards
Dhivya
Gud article and great comment on 12Lac risk premium.:)