By Vishnu Anand
January 28, 2023: Over the last fortnight, several global technology corporations have announced downsizing – or in more polite terms – rightsizing of their global workforce.
While the impact is not as devastating as the great recession of the late 2000’s, the workforce in India is losing jobs, and the most common reason being given to them is fear of another recession. While the good news is that the rightsizing is happening before a recession is actually knocking at your doorstep, ensuring that the effect of the recession – if at all it really happens – is minimal, the workforce of today needs to make informed choices around their long-term career goals.
Hiring experts and Human Resource specialists feel that the real reason for the layoffs is the fact that the pandemic years saw almost nil hiring of new workforce. Two years later, just as the pandemic started waning away, large corporations wanted to stay ahead of the curve, and in the process, ended up recruiting more people than necessary.
Today, with the industry stabilizing and business climate normalizing across the world, the same corporations are having to rationalize their ambitious over-hiring. In a way, it is a sign of normalcy returning to the world of technology business, as an aftermath of lopsided business decisions.
While any such massive curtailment movement means displaced employees looking for jobs, India is in a far better place than the rest of the world. The reason for this is the sheer number of start-ups that exist in this country, which operate with the sole aim of taking on global biggies with innovation and mindful investments.
The good news is that these start-ups are actively seeking the services of displaced employees, as it saves them the time and effort to groom them. After all, if you have worked in a large corporation, it’s a reasonable belief that you come with knowledge of processes, job responsibilities, in order words, the sheer panache of working in an organizational structure. This is invaluable for a start-up.
Pradeep Gopi has been a seasoned HR professional who has built a niche career of empowering Indian start-ups to find the right talent to meet their transformation goals.
He is currently the Director of HR at Bidgely, an innovator in the Energy & Utilities market. Speaking exclusively to Swarajya, he said, “At large companies, your role is limited to a small group within a larger group, to create one part of a solution, which will be plugged into a larger solution. In other words, your impact is minimal. In contrast, if you were to work in a start-up, you are actually getting your hands dirty on the actual solution, and your contribution and impact to business is massive. Of course, the more impactful you are to the company, the safer your job is.”
He goes on to say that it’s time for the Indian workforce to stop chasing big names and give innovative start-ups a chance. “At Bidgely, we are transforming the world of energy sustainability with our unique solutions. We are operating in an industry that is extremely critical and lucrative. If the workforce understands this and joins us in our journey of transformation, your jobs are safe and your career has better meaning.”
A data science engineer who didn’t wish to be named moved recently from Atlanta to Hyderabad, after serving three years for a large global supply chain company.
He said, “I was pleasantly surprised at the maturity with which start-ups in India are creating innovative solutions in pretty much every area of the industry. They are often faster and see instant success, as compared to companies in the US that are constrained by having multiple decision makers. Indian start-ups follow flat organizational structures making seamless innovation a reality”.
It is a known fact that start-ups are by nature more transparent and open about their business to their employees. Every new customer, every new innovation is shared and celebrated, and every investment and funding is brought to the notice of every employee.
Anyone with basic common sense can understand where the company is heading. Most start-ups in India are in a growth phase, and this means your jobs are safe for the next two years. Much better than being caught off guard in a large corporation that chooses to curtain 5% of its workforce overnight, isn’t it?
This article has appeared in Swarajya