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Current Affairs - Corporate Employment Trends Industry Evolution

What is true? Genuineness and pretense are co-existing, hiding behind each other for different reasons

In a nutshell…..
Diversification and adaptation are the only way for Corporates to survive and succeed.
Pandemic has posed a complete array of challenges.

We have observed many Companies beginning from Engineering design to traditional business houses like Tata or Reliance venturing into diverse businesses from Steel or Hydrocarbons to Projects to Fmcg to Jewelry to Textiles. Like the saying goes, ‘Don’t put all your eggs in one basket.’
The other trend is the Companies who have been into Oil & Gas- Engg Design and eventually shifted or accommodated different verticals like Engg Design, PMC, or Survey assignments in Infrastructure – Water supply, Metro, Rail, Highways and Plant Design.

We’ve heard stories of Nokia or yahoo- the impact of resistance to change.
Post pandemic, the term ‘Change’ is replaced by ‘Evolution.’
In the past, the challenges did exist and were never dying. But now, the intensity and nature of challenges have become unpredictable in terms of magnitude or impact. There is no downtime for repair or Turn-around time for the resolution, which can be visible collectively or calculated methodically.

What sounds opportunity today might turn out to be a disaster over time to come. Pricing for services and products might get revised and remain standard for years to come as a survival instinct. The company’s processes will get digitalized; practices will become more stringent. Virtual platforms are being set up to monitor human beings’ performances to be at par with robots. Gauging performances will be easier for the organization because judgment will be only through outcome. Performing will be difficult for employees since every activity is being recorded, and efforts must be infinite. Efforts and time spent won’t be counted; results only will be.

Retrenchment will increase where resources fail to adapt to the new normal on one side. And Attrition will increase at the junior level in search of the old normal. Layoffs for Senior positions are growing on one side to cut costs. On the other side, Junior resources have been vested with higher responsibilities. The Industry has taken this opportunity to clear out the extra baggage – cost-wise and head-count wise. Pandemic has given a genuine reason to exit non- performing or higher cost employees, Doubling the activities and workload for performing employees.

What is true? Genuineness and pretense are co-existing, hiding behind each other for different reasons based on the Industry’s requirement in the current scenario or the expected scenario.

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Current Affairs - Corporate

‘A problem needs a solution; a solution doesn’t need a solution.

‘A problem needs a solution; a solution doesn’t need a solution.

Corporates are only expected to find solutions for any problem occurring on the horizon. The issues may be repetitive or new every time. But, the solution changes with time, phase, people, and culture.

Unpredictable situations have always circled the Industry. A robust problem-solving approach is still the underlying strength of any organization. Every situation has made the Industry more dynamic, building better processes, updating to newer technologies, eliminating or improving people to adapt to the situation.

COVID 19 also is a scenario that will force the Industry to evolve at its best. This can be the best opportunity or the worst punishment for any Individual or Organization. Options are always available, and making a choice is unavoidable.

Clarity through any challenge is always a tough task. But when choices are offered, it is smart to grab and make an opportunity.

COVID 19 can be the best opportunity to introspect and retrospect self and the Organization. Most of the time, we have been extinguishing the fire. Here is the time to have 7- Dimensional view and build a road map to avoid a fire in the forthcoming times.

Problems have been an indispensable part of life, be it an organization or individual. Glorifying the problems worsen the situation and block our minds from thinking.

Fear of the future creates confusion in the minds. Any Organization or Individual was not born to face only good throughout. The expectations were to meet more negatives than the positives when the journey began. Ambiguity was most common as we were born with it. The difference has been that there was a variation in the volume of people in the same situation. The problems were distributed and were of different in nature with each group of people or Organizations.

Fortunately enough today, most of the Organizations or Individuals are facing the same challenges world-wide. So solutions also will be found sooner with so many minds working on it simultaneously.

Hold on to your Place, your Company, your Clients, and Business… this has come to pass by and make you better.