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How boys from Assam would tackle job loss in time of recession

Assam is going through a very difficult time. Terrorists’ attack one after another has enraged the people of Assam especially the youth. On the top of it due to financial down turn created a situation of depressing environment. Young educated engineering graduates of 2008 are still waiting to receive instructions from employers for the place of joining and date of joining. A few people received appointment letters from the campus interview as early as October 2007 with good salary. They were told to stand by till they graduates officially. The result came out in May 2008. The successful candidates were congratulated and asked to stand by for instructions to join after a few months. But alas! Till today these first class engineering graduates are awaiting instructions to join.

During the month of November some of the companies like Syntel however intimated the boys, to whom appointment letter were issued, to be prepared to join the job promised by the Third quarter of 2009. It meant that young brilliant graduates would have to keep waiting for more than a full years before they can get a job for which they dreamt of. The big company like wipro is appointing those engineers who would at first work for 18 months in BPO outfit. They will be qualified to get a technologists job only if they take up BPO's job first. Young Boys are nervous. How to confront this kind of Job loss, unemployment or Qasi employment? What should boys do in the time of recession? Rural unemployment are mounting in Assam, Young boys are struggling to get a job even on part time. What Government can Do? What can be done by educated youth? Here are some of the thoughts:

The recession has brought in unemployment. The ripple effect of the melt down has reached the shore of realty sectors, investment banking sectors and later it took under its spell all export oriented industries. The slow down in bank, retail and automobile industries have greatly affected IT and IT related industries. Many industries have laid off workers and executives.

The financial institutions of India have stood their ground, as banks were not involved in sub prime situation. For enduring support of RBI and Government of India liquidity position of Indian banks have stabilized to a great extent. But unemployment situation have worsened as the recession has set in. Again Repo rate needs to be brought down to ensure growth & employment.

The recession in Steel, Graphite and Aluminum, affected graphite electrode industries, Calcined Petroleum Coke industries, Electrode carbon paste industries even Refineries. All the four refineries of Assam producing best petroleum coke of the world are carrying higher inventories. There are no takers of RPC. The IOC is bound to bring down price to generate demand. In Assam, unlike other states, none of the industries have laid off workers till now. But only time will dictate how long industries will be able to sustain the pressure. Rural employment could be generated, by State, promoting small industries and starting farming through private & public joint enterprise. It would create large employment.

The recession has created educated unemployment. Some of the companies like Syntel and Wipro have postponed the appointment of engineers. Engineering graduates of 2008 are only expected to join in the third quarter of 2009. Wipro has even reduced the salary from 2.75 lakh a year to 1.30.lack a year. Though salary has since been reinstated but the condition of working in a BPO first has become mandatory for 18th months before getting a hardcore technologists job. . With such offer engineers are feeling nervous.. Under the circumstances what new students are going do?

Hitherto, the recession had affected world for a maximum period of eighteen months. But this time employment creation will be effected at least for three years. The new boys passing out higher secondary may think of Power Engineering. The graduate courses are available in Jadavpur University and IITs have post graduate level. Graduate engineers can take M. Tech. Course now. Within three years infrastructure areas would develop so power sector & civil engineering would get a new lease of life. This is the time for “Core Engineering” courses (Mechanical, civil, and electrical) rather than IT sectors. However IT would comeback in great demand after four years..

More than the organized sector, workers at the unorganized sector are getting affected. There are lots of workers working in diamond polishing & other small-scale industries. Workers in handicraft segment, hospitality and tourism industries are greatly affected. In organized sector the most effected area are BPO, IT & automobile. No new job creations are envisaged in aviations, steel and cements too.

What is to be done now? Those persons who have lost jobs may try to utilise the time by developing new skills. They can take up course for SAP, join MBA or Chartered Financial Analyst course. These are new areas with ample opportunities. The course in animation, power engineering, and environmental engineering and biotechnologies may be thought of. Fresh graduates can take up some assignments in well-known companies even in low salary, waiting for better assignments, where skill can be learnt. HCL, Vodafone and Idea may take engineers in Assam. Public sectors jobs offer decent opportunity for advancement now. Graduates from Arts, science and commerce can prepare for jobs in banks, insurance and civil service.

The enhancement of productivity would be the watchwords for workers. Gone are the days when workers could ignore the productivity and revolt. (Dunlop offered monthly compensation of Rs2000/- P.M to all workmen for temporary period to avoid recession. CITU Trade unions agreed but workers disagreed resulting in suspension of work.) The workers may avoid lay off and forced leave concept by discussing with employers for increased workload & cost reduction methods temporarily. Steel and aviation industries have accepted temporary pay cut and are surviving. Industry may be able to avoid lay off for sometime with better productivity. The recession may engulf all of us. We need to fend for ourselves with patience by developing new skills and government by developing new areas like private farming.

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gpnarua's picture

Comments

pallavi's picture

Dear sir, Pls. send the Address of Agency's who is Providing the manpower Pallavi
raktim baruah's picture

though mostof us feel that the economic crisis originated from U.S.is not creating trouble for us,but it also anemic our lives by cutting down some opportunity that exists only with the multinational companies irrespectives of domestic and foreign.
kuldip's picture

Economic crisis cut-down many jobs espcially from financial sector from all over the globe and from multinational/domestic organisation. It's time to be keep patience and waiting for some good news after march budget. Since, election in US is all over and citibank has on a stable situation right now so this economic crisis will over in near future. As everyone aware that there is always going to be slums down or there is always a staturation point comes after every eight years so this one is expected. If anyone at this point of time loose their jobs due to all over globe so dont frustrate and try for other openings and try to explore new technology/new stuff related to your domain and keep on watching latest status of global economy. Cheers, Kuldip
Alexandra Y.'s picture

The economy is still making hard hits, as the unemployment rate continues to rise, leaving diminishing hope that things will get better anytime soon. You see, I am currently working in an industry that is failing nationwide. They have cut my hours and I am afraid the layoff-axe will soon be coming down on me. So I decided to begin my search of a new career opportunity that best matches my field. When I last paid a visit to my payday loans’ source, I found an interesting article that goes over some of the best careers out there, the best businesses to start and the best states to start them in. Turns out higher education and health care are pretty much recession-proof. I recommend everyone read more about this on the <a title="READ Formula for Your Future | Payday Loans Might Help You Get There" rev="vote-for" href="http://personalmoneystore.com/moneyblog/2009/01/09/formula-for-your-future-payday-loans-might-help-you-get-there/">payday loans</a> money blog at Personal Money Store.
Sandra's picture

Losing your job is tough. However, change means opportunity. Many great opportunities come when one phase of life ends, opening up the space for new possibilities and rewards. Whether dealing with the loss or identifying the opportunities, you will have to take practical measures!!

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