“We Are Hiring!!” One Term that has taken serious aback in 2020 due to obvious reasons of Covid-19. 2020 has been very brutal for Society, Businesses, Humanity, and the Overall Employment Sector. 23rd March’20 India Went on a Stand Still towards Lockdown for 21 straight days, in an attempt to prevent the spread of the coronavirus. But, considering the demographics and territories, it was very difficult to control the spread as major developing countries with less population were not been able to prevent it from the spread. The first 21 Days, later additional 30 Days of Lockdown ensured that Indian GDP Started Dripping from the top and incidentally reached -23% around last quarter. But this is not the end of the world. The world has seen an epidemic, pandemic, endemic, and many more. The world is going to come strongly to the rescue of humanity sooner or later and that has been a history so far.
Today's Article Says, Why You Need to Hire in Current Uncertain Times? means if You see the patterns of history you would be able to understand the supporting statement towards hiring. Let's Understand The Unemployment Rate During the Previous Recessions in 2008-09 India's Unemployment Rate was around 5.63%, Tech Bubble in 2001-02 5.72%. However, in the Current Market, the Unemployment Rate is Clocking around 10-15% which is comparatively higher than the last two recessions. However if we compare it with global Recession with current times, it was in way back in 1929-30 Great Depression in the USA was highest at around 25% of Unemployment. That's some worrying stats.
But there is a twist in the story, which is on the positive side. It is always said and proved that After Every Recession there is an Upward Movement Comes in the Market which Can be Called J Curve (Ideally in 12-18 Months) due to Non-Consumption for a Long time, and Huge Demand for the Growth. Now How Does it will Impact Business by Hiring in Current Times. Let's Understand with one Basic Example of the Stock Market. Let's Consider Stock Market is falling your point of view towards the Stock Market would be different from the trader's point of view and investor point of view. The trader thinks of getting saved from the market, whereas the Investor thinks about Investing More into the Market as he would be getting value for money for the companies at a much cheaper price.
Stock Market Principle in Hiring a Talent
- If You are Running Your Business, and planning to hire a Talent for Your Organization go for it, You would be getting a Much Talented Resource at an affordable CTC.
- Many companies have laid off employees, which has resulted in huge demand for talent in the market and less supply of jobs, which puts the employer on top of the game again, gives better control in hiring, and choosing the right one for your organization.
- This is the time to establish your brand as the most suitable company or trusted company while dealing with employment, remember in business you don't have to think from a trader point of view but think from an investor point of view.
- By Hiring the Right Manpower in Current Times, there will be an unsaid long-term commitment from the employee's end, which will impact results in a long-term journey.
- Remember, as Said by Warren Buffet, Stock Market is a Place of transferring Money from Impatient Investor to Patient Investor. in the Same Way, Recession is the best time to transfer Talent from Low Value-Driven Companies to High Value-Driven Companies.
- It is Not You Who Deliver Results, It is People Who Drive the Vision of the Organization, and the More they are connected with the vision and values of the organization it will be beneficial for the organization.
Currently Hiring is Risky but Not Hiring is More Dangerous, Remember the definition of entrepreneurs as per google, "a person who sets up a business or businesses, taking on financial risks in the hope of profit."
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