Recession in India, and How to Survive It.
“Global recession is starting to look inevitable” – CNN
“India May Have Entered ‘Quasi-Recession’ As Growth Slumps”- NDTV Profit
With headlines like these, it’s evident that India is heading for a Recession. But it’s not just India, the world’s largest economies, the U.S., Germany, are seeing all the signs that are followed up by recession.
As 2008 (now known as ‘The Great Recession’) taught us, the sectors that are hit the toughest during a recession are IT and ITES. However, it’s not all gloomy for IT professionals. There’s a secret to surviving the recession, something that professionals and corporations everywhere on the planet realized because of their learnings from the last recession.
The secret is upskilling. Yes, it’s that simple.
If you’re an IT professional concerned about the way to not just survive but thrive within the recession, you would like to significantly consider upskilling as the answer.
Skills are prioritized during recessions.
A study of recruitment behaviour between 2007 and 2010 revealed that even though hiring went down, it didn’t completely stop, instead hiring was only restricted to highly skilled professionals. this is often because during a recession, labour supply increases and as a result, employers capitalize on the scenario to acquire professionals whose skills would somewhat be unaffordable during a growth period.
Jobs that cannot be automated are of value.
The first mandate for many companies during an economic slowdown is to chop costs. In most cases, companies do that by shedding their employees whose jobs are often automated with the assistance of technology. That’s why IT professionals with highly developed skills that can’t be automated aren’t only safe but valued during a recession.
Upskilling leads to more responsibilities.
As companies look to scale back their manpower costs during a recession, they’re also on the lookout for workers who are willing and ready to combat additional responsibilities. By learning new skills and certifications that enable you to carry on additional responsibilities at work, you would be seen as a valuable asset.
Prepare for the post-recession world by upskilling.
A recession is typically a time of great turbulence and sometimes skills that were valuable before a recession finds looking meaningless after it. And since the post-recession period is usually a time of growth and high demand for labour, you would like to be able to cash in. That’s why a recession is typically the right time to spot the talents that you just have to develop and begin upgrading them through learning. This ensures that you simply are going to be eligible for far better roles and better salaries once the recession ceases to an end.
So, now that you just have opened up to the thought of upskilling, how does one set about it? Remember that upskilling works best if you’ve got a goal in mind. does one want to upskill to remain ahead of your peers in terms of skills? Are you upskilling so as to chase down a much bigger paycheck? Is there a dream company that you simply want to be employed in? does one want to get a giant promotion at work or does one want to change your career path altogether?
Once you have zeroed in on why you would like to upskill, here’s what I like to recommend you are doing next:
Select the right technology
When it involves picking the most effective technology to upskill in, you would like to think about a couple of things. Even though the technology isn’t wildly popular, is it likely to be more accepted within the immediate future? Are the who’s who of your field excited by the technology? Are you enthusiastic about the technology and can it assist you organically grow as an IT professional?
If the answer to all or any of these questions is yes, then you’ve found the correct technology to upskill in.
Choose the correct platform to learn from.
Your perfect learning platform must have features that are designed to make learning convenient and efficient. You ought to have the option to attend classes whenever it’s convenient for you and still have the option to interact with the instructors. You ought to have access to experts whenever you would like to help and your instructors got to be industry-experienced and of top quality.
This is where E-Learning or Real-time online classes have an edge over the traditional form of classroom training. Not only do you get to take up the classes at your own convenience, but you also have the option to interact with the instructor, and to add on to that, you can take up classes conducted by experienced professionals from any-where in the world from the comfort of your home.
Remember, it’s not almost what you learn but also how you learn it.
Get yourself certified as per the industry requirement.
Unless you’re learning only for the sake of learning, you’re learning journey is incomplete without industry-recognized certification. A legitimate certificate proves that you are trained in the particular technology and that you’ve got skills that will be immediately put into practice within the workplace.
Ensure that you choose a learning partner whose certificates are legitimate and recognized within the industry and whose curriculum includes many real-world practical learning.
Tag:economy, recession, recruitment, Upskill